The Senate panel investigating the N30 trillion Ways and Means loans obtained from the Central Bank of Nigeria (CBN) during Godwin Emefiele’s tenure as Governor is planning to request an extension for its investigation. Initially given a six-week ultimatum by Senate President GodsWill Akpabio during its inauguration on March 11, 2024, the panel was also tasked with examining the over-N1 trillion Anchor Borrowers’ Programme under the previous administration. Led by Senator Isah Jibrin, the panel has reportedly identified 13 financial irregularities linked to the loan acquisition process.
In addition to summoning CBN Governor Olayemi Cardoso and certain directors, especially those who served under Emefiele, the committee has obtained relevant documents and intends to summon government officials involved in the loan transactions.
However, due to the Senate’s recess and subsequent adjournment of plenary after only a few meetings, the six-week deadline passed on April 26, 2024. Senator Jibrin acknowledged the missed deadline, stating that the panel would seek an extension once Senate activities resume. He emphasized the panel’s commitment to conducting a thorough investigation despite the delay.
