The significant role agriculture plays cannot be underestimated in any nation. Apart from being the source of feeding of the populace, it also account for the source of income for other developmental activities. It is in line with these its fundamental role that this study make a giant stride to assess the contribution of Nigerian Agricultural Co-operation and Rural Development Bank to the development of this important sector viz-a-viz the economic growth. The main objective is to ascertain whether the bank which was purposely set up for the financing of agricultural activities in Nigeria has actually fulfilled the object. Multiple regression is used as a tool of analysis for the study. It was found that the bank has not lived up to expectation in funding the agricultural activities in Nigeria. The aim of setting up the bank is therefore not attained because of bureaucracy that engulfed the whole procedures and process in its operation. It was recommended that government should intensify effort to ensure there is adequate monitoring of the operation of the said bank so that they actually fund the project that it was set up for