The Speaker, Mr. Yakunu Damladi, announced the PDP member's suspension after the House adopted a motion during Tuesday's plenary.
The motion, which was moved by the House Leader, Abubakar Olawoyin-Mogaji (APC, Ilorin Central), enjoyed the support of all members at the House.
Olawoyin-Magaji, while leading the debate on the motion, described the Assembly as an institution and not an individual property and as such must be respected.
He accused the suspended member of making what he described as an "undesirable comment" which could lead to chaos in the House.
He alleged that Agboola disrespected the House in a trending post on social media and urged the speaker to investigate the matter.
Other lawmakers who corroborated the House leader in their submissions accused Agboola of making derogatory remarks against the House on social media.
The Speaker, Mr Yakubu Danladi, while announcing the suspension of the member, assured the House of a detailed investigation on the matter.
Danladi directed the House Committee on Ethics, Privileges, and Judiciary to conduct an investigation on the matter and report its findings to the House as soon as possible.
He also directed Agboola to stop attending the House plenary pending the conclusion of the investigation.
In a swift reaction, the suspended PDP member representing Ilorin South, in an interview with the News Agency of Nigeria, described his suspension as unconstitutional and illegal.
"The suspension cannot stand the test of time, the rule of the House does not permit that and the Constitution of the Federal Republic of Nigeria does not permit that.
" l am entitled to my opinion about our government," the suspended lawmaker said.
He maintained that all his utterances on the state government activities were statements of fact.