The House of Representatives Committee on Nutrition and Food Security has launched an investigation into allegations of abuse and mismanagement involving approximately ₦1.12 trillion in government intervention funds allocated for agricultural development and food security under the Anchor Borrowers Program.

Chairman of the committee, Hon Chika Okafor, expressed concern that despite the significant funds disbursed to over 4.67 million smallholder farmers over the years, Nigeria continues to face persistent food scarcity, rising food prices, and widespread malnutrition.

He emphasized that the public hearing is not intended to witch-hunt any individuals or organizations. Rather, its aim is to uncover the truth, identify systemic failures, and ensure that public funds meant for agricultural development are used transparently and effectively.

The Central Bank of Nigeria Governor Olayemi Cardoso was represented by Kwasari Harman an acting director in CBN said they disbursed 1.21 trillion and 871billion among others .The apex bank said that all the commercial banks in the country received funds from the federal government on the Anchor Borrowers Scheme of the previous administration.