The Senate Ad-hoc Committee investigating the acquisition and utilization of the N30tn Ways and Means loans from the Central Bank of Nigeria during the former President Muhammadu Buhari-led administration says it has uncovered some infractions in the loan procurement process.
Consequently, the committee has announced intentions to summon the current CBN Governor, Olayemi Cardoso, to provide explanations regarding these discrepancies.
This development emerged during a meeting between the Chairman of the Senate committee, Senator Isah Jibrin (Kogi East), and other committee members with officials of the CBN at the National Assembly on Tuesday.
The ad-hoc committee is specifically investigating the allocation and utilization of the N30tn Ways and Means loans secured during the tenure of President Buhari.
Senator Jibrin has alleged that the former CBN governor, Godwin Emefiele, unilaterally approved billions of naira across various segments of the loans without adhering to due process.
Additionally, the Senate accused Emefiele of signing billions of naira in 13 documents without proper authorization.
Jibrin emphasized that Emefiele should have obtained approval for the loans in collaboration with the CBN Board of Directors, as required by the CBN Act.
Jibrin said, “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.
“We want to know the total figure of the Ways and Means. We want to know the summation of the figure.”
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He noted that documents available to him on the Anchors Borrowers Programme implemented by the Buhari’s administration indicated that about 70 per cent of the programme had been executed, leaving the remaining 30 per cent.
He said, “On the Anchor Borrowers Programme, you have done well. You did about 70 per cent but we must ensure the completion of the remaining 30 per cent.”
Jibrin, further informed that the committee would summon the current CBN governor, Cardoso, to give a detailed account of what he knew about the Ways and Means facility.
“Your governor who took over from Emefiele should be able to stand for Emefiele because he took over from him, including his assets.
“Emefiele should provide an explanation to the existing governor. We will invite the governor and in case he does not have a response, he will contact Emefiele.” #senate
