The Senate has initiated a rigorous investigation into the utilization of N30 trillion Ways and Means loans during the tenure of former President Muhammadu Buhari, uncovering 13 infractions along the way.
In a dramatic turn, the upper legislative chamber has summoned the former Governor of the Central Bank of Nigeria, Godwin Emefiele, to clarify crucial details surrounding the alleged irregularities.
During a high-stakes meeting with officials from the apex bank, the Senate ad hoc committee overseeing the probe raised concerns about Emefiele’s unilateral approval of billions of naira across multiple loan tranches without adhering to due process.
Chairman of the Senate committee, Senator Isah Jibrin (Kogi East), minced no words as he called out the discrepancies, emphasizing the necessity for transparency and accountability in financial matters of such magnitude.
While acknowledging the commendable 70 percent implementation of the Anchors Borrowers Programme by the Central Bank, the committee underscored the imperative of completing the remaining 30 percent.
“The committee of governors ought to be the signatories to the Ways and Means account but in the document we have here, the governor signed billions of naira in about 13 places,” the committee chairman said.
“We want to know the total figure of the Ways and Means. We want to know the summation of the figure,” Bala Bello, one of the deputy governors of the apex bank who led a team of CBN officials to the meeting to the National Assembly said.
Senator Isah Jubrin, Chairman of the Senate committee on Ways and Means, echoed the sentiment, asserting the committee’s resolve to invite Emefiele for clarification if deemed necessary.
As the Senate delves deeper into this probing inquiry, the spotlight remains firmly fixed on Emefiele and the intricate web of financial transactions under scrutiny.
