House of Representatives investigates ₦1.12 trillion Anchor Borrowers' Programme insurance component
via Punch Nigeria3 min read
The House of Representatives Committee on Nutrition and Food Security has launched an investigation into the insurance aspects of the ₦1.12 trillion Anchor Borrowers’ Programme, as part of a larger inquiry into alleged mismanagement of agricultural intervention funds. During a recent hearing, the Nigerian Agricultural Insurance Corporation NAIC disclosed that it provided insurance coverage to only 207,514 farmers, valued at ₦109 billion, under the program. Dayo Babaronti, representing NAIC's Managing Director, stated that the Central Bank of Nigeria deviated from the original framework by contracting Veritas Kapital Insurance and Leadway Insurance as additional insurers, despite NAIC being designated as the sole insurer. Both Veritas Kapital Insurance and Leadway Insurance were absent from the hearing. Babaronti also revealed that NAIC's overall coverage under the scheme was only 12 percent, and for the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Plc’s ₦250 billion agricultural financing facility, NAIC insured only ₦8.25 billion. Furthermore, NAIC provided just ₦715 million in coverage for ginger farms out of a ₦1.6 billion funding announcement. For the Bank of Industry’s Agro and Food Processor Scheme, NAIC was not assigned any beneficiaries to insure. Committee Chairman, Mr. Chike Okafor, noted that preliminary findings indicate a disconnect between policy design and implementation, with key stakeholders like farmers often excluded from program desi
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The Delta State Government announced it will receive 50 Compressed Natural Gas CNG buses within the next four to five months to establish a mass transit system. Mr. Onoriode Agofure, the Commissioner for Transport, stated that the procurement process has begun following Governor Sheriff Oborevwori’s approval. These buses aim to provide cheaper, safer, and more comfortable transportation for residents on inter-city routes and within the Asaba metropolis. The government has identified operational routes and considers this an initial phase, with plans for more buses if successful. Modern bus terminals are under construction in Asaba and Warri to support the scheme, and legal frameworks are being developed for sustainability. The initiative is expected to create jobs and boost economic activities, with future plans to extend services to riverine areas. Engr. Vincent Ehiwario, Director of Vehicle Inspection Services, commended the Governor and Commissioner for transport sector reforms, including automated inspections and road safety campaigns.
Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God, called on scholars, church leaders, and policymakers to move beyond academic discussions and create practical solutions for Nigeria's escalating insecurity. Speaking through his Special Adviser on Administration, Prof. Dele Balogun, at the 2026 International Conference on African Pentecostalism, Adeboye highlighted kidnapping, insurgency, farmer-herder conflicts, and communal violence as major threats. He expressed optimism that Nigeria would fulfill its destiny despite current challenges, emphasizing that African Pentecostalism plays a significant role in the nation's life. The conference, themed "African Pentecostalism and the Politics of Insecurity in Nigeria," was organized by the Redeemed Christian Theological College in collaboration with the University of Ibadan and Redeemer’s University. National Overseer of RCCG, Pastor Sunday Akande, represented by Dr. Josiah Bolarinwa, noted that insecurity has been politicized, hindering resolution. Akande urged Pentecostals to engage in community development and support security forces. Dr. Alaba Oti, Provost of the college, stressed the need for thoughtful, ethical, and practical responses from religious leaders and scholars. Prof. Afe Adogame of Princeton Theological Seminary challenged churches and faith-based organizations to complement prayers with practical action, addressing root causes like poverty, unemployment, and corruption. Adogame critic
Must ReadThe Court of Appeal in Abuja has overturned a Federal High Court judgment that had nullified parts of the Independent National Electoral Commission's INEC electoral guidelines for the 2027 general elections. The appellate court ruled unanimously that the Youth Party, which initiated the lawsuit, lacked the legal standing to challenge the guidelines. Justice Adebukola Banjoko, whose lead judgment was read by Justice Okon Abang, stated that the Youth Party failed to demonstrate how the guidelines negatively impacted it or its members regarding primary elections or candidate submissions for the 2027 polls. The court concluded that the Youth Party did not establish any injury from the guidelines to justify the suit. The three-member panel also found that Justice Mohammed Garba Umar of the Federal High Court erred in his May 20 ruling, which had deemed the guidelines inconsistent with certain provisions of the Electoral Act. Justice Umar's earlier judgment had stated that INEC lacked the power to compel political parties to conduct primaries within commission-fixed timelines and had nullified aspects requiring parties to submit membership registers and candidate particulars ahead of statutory timelines. INEC had appealed this decision, arguing through its counsel, Dr Alex Izinyom, that the Federal High Court did not address its preliminary objection that the suit was hypothetical. The Court of Appeal upheld INEC's appeal, vacating the Federal High Court's judgment and thereby rest