Nigerian House of Representatives launches investigation into CBN's Anchor Borrowers Scheme over mismanagement and its link to food scarcity and malnutrition.
The Nigerian House of Representatives has launched an investigation into the Anchor Borrowers Scheme, a CBN-led initiative that provided agricultural funding to the tune of N1.12 trillion. The probe follows allegations of mismanagement and misapplication of funds, which have been linked to food scarcity and malnutrition in the country. The House also plans to investigate NIRSAL's N215 billion loan, the Bank of Industry, and other agricultural agencies. The committees responsible for the investigation have been given four weeks to report back with their findings.
July 02, 2024
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