Senate panel seeks extension of N30tn loans probe

The Senate panel probing the N30tn Ways and Means loans secured from the Godwin Emefiele-led Central Bank of Nigeria by the Federal Government has said it will seek an extension of the time allotted for the investigation.

At the inauguration of the panel on March 11, 2024, Senate President GodsWill Akpabio gave the panel a six-week ultimatum to probe the loans.

The panel was also charged to probe the over-N1tn Anchor Borrowers’ Programme of the CBN under the immediate past administration, urging it not to leave any stone unturned.

The panel led by Senator Isah Jibrin, ( APC, Kogi East), later said it had uncovered about 13 financial infractions allegedly committed in the process of obtaining the loans.

The Senate also disclosed that it would summon the Governor of the CBN, Olayemi Cardoso, and some directors of the apex bank particularly those who worked with Emefiele.

The committee also disclosed it had received some documents that would aid the probe, adding that some government officials involved in the loan would be summoned.


However, after two to three meetings, the Senate went on recess and adjourned plenary.

Findings by our correspondent showed that the six-week ultimatum elapsed on April 26, 2024.

Responding to the failure to meet the deadline, the chairman of the panel, Jibrin told our correspondent that the panel would seek an extension of the time once the Senate resumes.

He said, “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.”

The PUNCH had reported that the National Assembly is billed to resume on Tuesday, April, 30 after rescheduling from April 23.


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