The House of Representatives has opened an investigation into the whereabouts of over ₦30 billion reportedly recovered from the National Social Investment Programme Agency (NSIPA) between 2024 and 2025, amid growing concerns that delays in releasing the funds are stalling key poverty-alleviation schemes.
The decision followed the adoption of a motion of urgent public importance moved on Mr. Saidu Abdullahi, representing Bida/Gbako/Katcha Federal Constituency of Niger State.
Leading the debate on the motion, Mr. Abdullahi recalled that the investigation “resulted in the tracing, freezing, and recovery of substantial public funds belonging to the Agency from Deposit Money Banks and Payment Service Providers, including funds appropriated for TraderMoni, MarketMoni, FarmerMoni, and Grants for Vulnerable Groups.”
He, however, raised alarm that “credible sources have indicated that these recovered funds, estimated at over ₦30bn, have not been remitted into NSIPA’s designated Treasury Single Account,” a development he said has crippled programme implementation and left millions of vulnerable Nigerians without the support intended for them.
Abdullahi further warned that the non-release of the funds was eroding confidence in the administration’s economic recovery efforts.
“The prolonged non-release of these funds undermines the Renewed Hope Agenda by slowing down poverty alleviation efforts, weakening small-scale enterprises, exacerbating hardship, delaying local economic growth, and eroding public trust in the government’s social protection commitments.”
He also expressed worry over the lack of clarity regarding the exact custody and management of the recovered money, noting that uncertainties surrounding the funds “pose fiscal risks, disrupt programme timelines, and may create institutional bottlenecks across national intervention initiatives.”
Despite President Tinubu lifting NSIPA’s suspension on January 21, 2025, the lawmaker observed that the agency has been unable to resume full operations due to the unavailability of the recovered funds. “This continued delay has exposed millions of Nigerians to prolonged socioeconomic distress,” he said.
Deputy Speaker Benjamin Kalu, who presided over the session, put the motion to a voice vote, leading to its unanimous adoption.
Following the approval, the House resolved to establish an ad-hoc committee to investigate the total recoveries made during the 2024–2025 probe, determine their current custodianship, and identify bottlenecks delaying their release.
The committee will also meet with relevant agencies and obtain NSIPA’s utilisation plan once the funds are made available. It is expected to report back within four weeks.
Olusola Akintonde