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Senate Orders Panel To Probe N30tn CBN Loans In Six Weeks


The Senate President, Godswill Akpabio,  has charged 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, saying the panel must unravel everything about the facility.

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

Speaking on Monday in Abuja while inaugurating the 17-member Ad-hoc Committee probing the N30tn loan obtained during the former President Muhammadu Buhari’s administration, Akpabio charged the committee to spend six weeks in carrying out the exercise.

Abkpabio further admonished the lawmakers to shun personal and partisan interest, focus on the task at hand and approach their responsibilities with utmost balance, devotion and impartiality.

Recognising the sensitivity of the investigation at hand, Akpabio reminded them to constantly engage with relevant stakeholders and consultants to provide invaluable insights while maintaining open lines of communication with the executive and the public.

He however , told the panel that no aspect of the report must be leaked to the public until the task was concluded.

Akpabio 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.”

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).