The Senate panel investigating the N30tn Ways and Means loans secured from the Central Bank of Nigeria (CBN) by the Federal Government has announced its intention to seek an extension of the time allotted for the investigation. The panel, inaugurated on March 11, 2024, was initially given a six-week ultimatum by Senate President GodsWill Akpabio to probe the loans.
Led by Senator Isah Jibrin, the panel has uncovered about 13 financial infractions allegedly committed in the process of obtaining the loans. It also intends to probe the over-N1tn Anchor Borrowers' Programme of the CBN under the immediate past administration. The committee plans to summon CBN Governor Olayemi Cardoso and some directors of the apex bank, particularly those who worked with the former CBN Governor, Godwin Emefiele.
Despite the six-week ultimatum expiring on April 26, 2024, the Senate went on recess and adjourned plenary, leading to the failure to meet the deadline. Senator Jibrin stated that the panel would seek an extension of the time once the Senate resumes, emphasizing the importance of conducting a thorough investigation.
The National Assembly is scheduled to resume on Tuesday, April 30, after rescheduling from April 23.
