Abuja, Nov. 12, 2025 – The House of Representatives is to probe the utilisation of over ₦12 trillion disbursed to Development Finance Institutions (DFIs) in the last seven years.
The House made the resolution on Wednesday after the inauguration of an ad hoc committee to review the funding of these institutions.
Chidi Obetta, the Chairman of the new committee, said the probe would give lawmakers an insight into how funds channeled to these institutions were spent.
He identified these institutions to include the Bank of Industry, Infrastructure Bank, Bank of Agriculture, Development Bank of Nigeria, Nigeria Export-Import Bank, and Nigeria Incentive-Based Risk Sharing System for Agricultural Lending.
The committee chairman alleged that the fundings, estimated at over ₦12 trillion, would be subjected to verification by getting their detailed expenditure on projects.
Obeta said the proposed investigation was in response to the growing public demand for transparency and accountability from these institutions.
Abbas Tajudeen, the Speaker, said public funds meant for economic growth must be managed with transparency and discipline.
The Speaker, who was represented by the Deputy House Leader, Hon. Abdullahi Halims, said the House would no longer approve budgetary allocations to development institutions that failed to demonstrate accountability.
