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Written by on March 20, 2024

The Senate Ad-hoc Committee, investigating the acquisition and expenditure of the N30 trillion Ways and Means loans from the Central Bank of Nigeria during the administration of former President Muhammadu Buhari, has disclosed the discovery of certain irregularities in the loan procurement process.

As a result, the committee has announced its intention to summon the current Governor of the Central Bank, Olayemi Cardoso, to provide clarification on specific aspects of these irregularities.

These revelations surfaced during a meeting between the Chairman of the Senate committee, Senator Isah Jibrin (representing Kogi East), and other committee members with officials of the Central Bank at the National Assembly on Tuesday.

Senator Jibrin alleged that the former CBN governor, Godwin Emefiele, unilaterally approved billions of naira across various stages of the loan disbursement without adhering to due process.

Furthermore, the lawmaker from Kogi accused Emefiele of signing off on billions of naira in thirteen separate documents, raising concerns about the legality of these transactions.

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