• Saturday, July 13, 2024
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Why Senate’s probe of CBN’s N30trn loan to FG is stalling – Committee

Senate extends implementation of 2023 budgets to December 31

The Senate through its Ad – hoc committee investigating the N30 trillion Ways and Means facility stated on Monday that the probe is yet to be completed, as the Accountant General of the Federation is yet to release some vital information it requested.

The Senate, had on March 11, inaugurated an ad-hoc committee chaired by Isah Jibrin, the Senator representing Kogi East, to probe the loan disbursement and with a six-week timeline to submit report.

In a statement on Monday, Jibrin said the probe was still on course even though the six- week time had elapsed. The lawmaker explained that some findings have been made, but crucial information from the Accountant General’s office is still pending.

He refrenced a letter dated June 19, 2024 and written to the AGF which read, “Request for Submission of Additional Information : You may recall our earlier letter on the above subject dated May 27, 2024, requesting for the following additional information on Ways and Means, which you are yet to respond to .

“The required information are; Details of disbursements under ways and means , Names of the beneficiaries , Amount / date of disbursements , purpose of the disbursements , terms of the disbursement ( where applicable ), repayment schedule ( where applicable ) and adherence to the repayment schedule” .

The Chairman said the information required would ensure thoroughness of the investigative exercise .

“The essence of an investigation is to come up with factual findings and not just roll in report within specified time frame. Investigation on the N30trillion Ways and Means , is on course and not in anyway , in limbo”, he said.