N30tn Modes and Means Loan: CBN FRURINDARINT ACTUSION – Senate

The ad-hoc committee of the Senate that investigates the modalities and means of type N30 trillions granted to the federal government between 2015 and 2023 accused the central bank in Nigeria (CBN) of frustrating its efforts to discover how the loans were used.

The chairman of the commission, Isaah Jibrin, made the accusation on Tuesday after receiving a provisional report.

Mr. Jibrin, Senator for Kogi East, said that CBN refused to provide the necessary documents to facilitate the investigation, thus delaying the completion of the mission.

We remind that, under the past president of Nigeria, Muhammadu Buhari, Nigeria borrowed N30 trillions in ways and means from CBN under Godwin.

The financial experts blamed the country’s inflation in excessive ways and means loans by the past government, which has aroused outrage among Nigerians.

In response to the concerns created by the ways and means, the Senate set up an ad-hoc committee of nine members on February 27, 2024 to examine the unlock and use of the loan.

Almost a year later, Jibrin accused CBN of delaying the investigation of the Committee on his refusal to provide necessary information in this regard.

“None of the documents were presented to us. We will not allow you to attend the next meeting because you came here for the same reason.

“The smallest person who will attend the next meeting should be a deputy governor of the CBN.

“What you tell us is not the truth. I did not receive the documents. I don’t want to cheat the public here, “he added.

According to him, “the information we have here is not different from what we have had over time. What we did was teach the consultants’ documents, and when the consultants made this provisional report available, our intention was to retain the interim report.

“Now we were forced to make this provisional report available to the general public, so that it knows where the problem is.”

“The problem is that the central bank in Nigeria has constantly refused the documents to complete this mission. This is the truth, ”he said.