The Senate panel investigating the N30 trillion Ways and Means loans obtained from the Central Bank of Nigeria under the leadership of Godwin Emefiele by the Federal Government has announced its intention to request an extension of the investigation period.
Initially tasked with a six-week ultimatum to probe the loans during its inauguration on March 11, 2024, by Senate President GodsWill Akpabio, the panel has encountered complexities necessitating an extension.
Additionally, the panel was mandated to scrutinize the over-N1 trillion Anchor Borrowers’ Programme of the CBN during the previous administration, emphasizing a comprehensive examination.
Led by Senator Isah Jibrin of the APC representing Kogi East, the panel has already identified approximately 13 financial irregularities allegedly linked to the acquisition of the loans.
Furthermore, the Senate plans to summon key figures including the CBN Governor, Olayemi Cardoso, and several directors, particularly those associated with Emefiele’s tenure.
Although the committee has obtained pertinent documents and intends to summon government officials involved in the loan process, the Senate’s recess and adjournment of plenary have delayed progress.
Despite the expiration of the initial six-week deadline on April 26, 2024, Senator Jibrin affirmed the panel’s commitment to thoroughness and indicated plans to seek an extension once the Senate resumes from recess.
“The Senate has been on recess for about a month now; we will seek an extension when we resume. We will ensure that a thorough job is done,” stated Jibrin.
The National Assembly is scheduled to reconvene on Tuesday, April 30, following a rescheduling from April 23.
