The Senate panel investigating the N30tn Ways and Means loans obtained from the Central Bank of Nigeria (CBN) under Godwin Emefiele’s leadership by the Federal Government is set to request an extension for the probe period.
Initiated on March 11, 2024, Senate President Godswill Akpabio gave the panel a six-week deadline to investigate the loans and the over-N1tn Anchor Borrowers’ Programme of the CBN from the previous administration.
Headed by Senator Isah Jibrin (APC, Kogi East), the panel has identified about 13 financial irregularities related to the loan acquisition process. Additionally, the committee plans to summon CBN Governor Olayemi Cardoso and several bank directors, particularly those who served under Emefiele’s tenure.
While the committee has received documents to aid the investigation and plans to summon government officials involved in the loan, the initial six-week deadline ended on April 26, 2024.
Chairman Jibrin acknowledged the missed deadline due to the Senate’s month-long recess but assured that an extension request would be made upon the Senate’s resumption. He stated, “Once we resume from the recess, we will seek an extension to ensure a comprehensive investigation is carried out.”
The National Assembly, which was initially scheduled to resume on April 23, is now set to reconvene on April 30.
