The Senate Ad-hoc Committee on Ways and Means Advance has accused the Central Bank of Nigeria (CBN) of frustrating its investigation into the N30 trillion Ways and Means Advance and the Anchor Borrowers’ programme under former President Muhammadu Buhari’s administration.
The committee made the accusation after receiving an interim report from its consultants at a meeting where they expressed frustration over the bank’s failure to provide crucial documents required for the probe. The committee, which was inaugurated a year ago by Senate President Godswill Akpabio, stated that the delay has significantly stalled progress on the investigation.
Chairman of the committee, Senator Isah Jibrin, criticized the Apex Bank for withholding vital information, despite multiple requests, revealing major infractions with the preliminary reports of the CBN. He dismissed speculations that the Senate had been compromised or gone to sleep, reaffirming its commitment to ensuring accountability and transparency in the management of public funds.
Although Hamisu Abdullahi, the Director of Banking Services at the Central Bank of Nigeria (CBN), claimed that the apex bank had provided all the requested documents, Senator Isah Jibrin, the committee chairman, refuted the claim, insisting that the facts tell a different story.
The committee issued a strong warning to the CBN representatives, emphasizing the need for full disclosure of how the funds were utilized to address Nigeria’s economic challenges.
