- Senate initiates ad-hoc committee to investigate N30 trillion Ways and Means loans utilization during President Buhari’s administration
- Committee also tasked with examining implementation of Anchor Borrowers’ Programme under Buhari’s tenure
The Senate has initiated the establishment of an ad-hoc committee to investigate the acquisition and utilization of the N30 trillion Ways and Means loans secured by the Central Bank of Nigeria (CBN) during President Muhammadu Buhari’s administration.
This committee is also tasked with examining the implementation of the Anchor Borrowers’ Programme during President Buhari’s tenure.
The Ways and Means loan facility allows the CBN to finance the government’s budget deficits.
The decision to form this committee follows a report from joint committees on banking, insurance, and other financial institutions, finance, national planning, agriculture, and appropriations after they interacted with the federal government’s economic management team.
Addressing the gathering during the inauguration in Abuja on Monday, Senate President Godswill Akpabio emphasized the significance of the probe panel, stating that it is tasked with investigating both the Ways and Means loans and the Anchor Borrowers’ Programme.