Jun 15, 2021

Mawazo Writing Africa

Writing about the main

Reps to probe N275b loans for farmers, accuse NIRSAL of siphoning N105b | The Guardian Nigeria News – Nigeria and World News —

Panel threatens FIRS boss due to alleged loss of income
The House of Representatives announced yesterday that it will initiate an investigation into the N275 billion that the federal government has approved for disbursements to farmers in various agricultural programs from 2009 to date to ensure national food security.

It complained that since after approval, most farmers have not accessed the facility due to the stringent requirements banks imposed on potential borrowers.

The House also complained about the alleged levy of over N 105 billion which intended for farmers by the management of the Nigeria Incentive. Agricultural Lending Risk-Sharing Scheme (NIRSAL) Chike John Okafor noted that loans ranged from the Commercial Agricultural Credit Scheme (CACS) to NIRSAL to enable farmers to improve agricultural production and improve food security in the Land.

In addition to increasing the food supply, the program should provide agricultural loans to large and small farmers in order to lower the prices of agricultural products, create jobs and increase foreign exchange income.

< p> Okafor noted that despite the approval of the money to farmers, since diversification of the country’s economy from oil to agriculture, food supply and low food inflation would not be achieved if farmers did not have access to the credit.

In a unanimous resolution, the legislature ordered his. to the Banking and Currency Committee to investigate disbursements and compliance with all agricultural loans and loan facilities to farmers within six weeks.

ALSO, House Public Accounts Committee (PAC) has its dissatisfaction with the executive chairman of the Federal Inland Revenue Services (FIRS), Muhammad Manman Nami, voiced what it called “his failure to perform his constitutional duties”. The Oluwole Oke-led committee made his Position known after Nami failed to appear to respond to inquiries about the federal government’s dwindling revenue, as reported by the Federation’s auditor.

Nami was due to appear before the committee for non-payment of taxes to the Government by Indorama Petrochemical, Indorama Fertilizer and Petrochemical Limited and OIS Indorama, Eleme, Rivers State, however, dispatched a representative.

Two Un Companies have been accused of enjoying duty exemptions and capital allowances, while the third is said to be operating to the detriment of the country in the Export Free Zone in Port Harcourt.

However, the committee ordered that the FIRS boss be on Thursday (today ) should appear before him or be sanctioned accordingly.

In the meantime, t, The House of Representatives also took an important step in establishing the Admiralty University of Nigeria in Ibusa, Delta State, with a bill to achieve the goal , which was adopted in the plenary session chaired by Deputy Speaker Idris Wase in the second reading.