Senate calls for probe into N30tn CBN loans, gives panel six weeks

The Senate President, Godswill Akpabio, has given a strong directive to the panel members investigating the N30tn “Ways and Means” loans secured from the Godwin Emefiele-led Central Bank of Nigeria by the Federal Government not to leave any stone unturned.

According to him, it is extremely important for the panel to unravel everything about the facility.

The panel was also encouraged to investigate the over N1tn Anchor Borrower Programme of the CBN under the immediate past administration.

Speaking on Monday, March 11, 2024, in Abuja, during the inauguration of the 17-member Ad-hoc Committee probing the obtained loan, Akpabio charged the committee to carry out the exercise in six weeks.

He said: “Today, we gather here with a common purpose – to inaugurate a crucial Ad-Hoc Committee. This committee, which was constituted following the report of the Joint Committees on Banking, Insurance and other Financial Institutions; Finance; National Planning; Agriculture; and Appropriations after interacting with the Federal Government’s Economic Management Team, holds great significance as it is charged with the investigation of the ways and means, including the Anchor Borrowers’ Programme.

“The constitution of this committee is a testament to the Senate’s unwavering commitment to transparency, accountability, and good governance. it reflects our dedication to addressing the concerns of the Nigerian people and upholding the principles of democracy.

“To the members of this esteemed committee, I implore you to approach your responsibilities with the utmost sense of patriotism, professionalism and integrity. Your investigation demands impartiality and fairness, always keeping the public interest and the welfare of our nation at the forefront. We must leave no stone unturned in our pursuit of the truth. Therefore, conduct thorough inquiries and dig out information that will assist the Senate in making laws for the betterment of our country.”

Giving further charge, the senate president continued, “The success of this Ad-Hoc committee hinges on collaboration, cooperation, and a steadfast commitment to the common good. Let us set aside personal and partisan interests, focusing solely on the task at hand. By working harmoniously, we can ensure that the Ways and Means in Nigeria are managed prudently, efficiently, and in accordance with the law.

“Moreover, confidentiality is paramount to your work. The information and data we gather during our investigations are sensitive and must be handled with the utmost care and discretion. Adhering to strict protocols will ensure the security and integrity of the information you uncover.”

The Chairman of the ad-hoc committee, Jibrin Isah, also stated that the panel will work best in the interest of Nigerians on this issue.

He said, “The Ways and Means and the Anchor borrowers programme have occupied the public space in the last few months.

“There have been various distortions; the ways and means have aroused various forms of discussions amongst individuals and groups looking for opinions and interpretations.

“I want to assure you that we are going to carry out this assignment expeditiously without any form of compromise.

“I want to plead with concerned parties to please make documents available when we request for them in order to make our work easier for us. We are going to do the very best that Nigerians would be very proud of.”

The committee which is led by Senator Jibrin Isah, (APC, Kogi East), has its members as Senators Asuquo Ekpenyong (APC, Cross River South); Mohammed Tahir Monguno, (APC, Borno North); Victor Umeh, (LP, Anambra Central) and Olamilekan Adeola, (APC, Ogun West).

Others are Senators Sani Musa, (APC, Niger East); Aliyu Wadada, (SDP, Nasarawa); Abdul Ningi, (PDP, Bauchi Central) and Ipalibo Banigo Harry, (PDP, Rivers West).

BEB