Senate Sets Six-Week Timeline for N30tn CBN Loans Probe

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The Senate President, Godswill Akpabio, has urged the members of the panel tasked with investigating the N30tn “Ways and Means” loans obtained from the Central Bank of Nigeria (CBN) during the tenure of former President Muhammadu Buhari’s administration to leave no stone unturned in their probe.

The panel has also been directed to scrutinize the over N1tn Anchor Borrower Programme of the CBN under the previous administration.

Speaking on Monday in Abuja during the inauguration of the 17-member Ad-hoc Committee responsible for probing the N30tn loan, Akpabio stressed the importance of thoroughness and impartiality in the investigation. He charged the committee to dedicate six weeks to conducting the exercise diligently.

Akpabio emphasized the need for the lawmakers to approach their responsibilities with a sense of patriotism, professionalism, and integrity, setting aside personal and partisan interests. He reminded the panel members of the sensitivity of the investigation and instructed them to engage with relevant stakeholders and consultants while maintaining confidentiality until the conclusion of the probe.

He said, “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.”

Chairing the ad-hoc committee, Senator Jibrin Isah assured Nigerians that the panel would fulfill its mandate without compromise. He stressed the importance of making documents available to facilitate the investigation and pledged to conduct the probe expeditiously.

Isah stated, “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.”

The committee, headed by Senator Jibrin Isah, includes Senators Asuquo Ekpenyong, Mohammed Tahir Monguno, Victor Umeh, Olamilekan Adeola, Sani Musa, Aliyu Wadada, Abdul Ningi, and Ipalibo Banigo Harry.