Senate Uncovers Several Infractions In N30trillion Ways And Means Loans Under Buhari, Summons Central Bank Ex-Gov Emefiele

The upper legislative chamber of the National Assembly, the Senate is set to summon the former Governor of the Central Bank of Nigeria, Godwin Emefiele, over 13 infractions uncovered in the process of obtaining the N30 trillion Ways and Means loan during the administration of former President Muhammadu Buhari.

The Senate ad hoc committee probing the disbursement and usage of the Ways and Means loan, which disclosed this on Tuesday, during a meeting with the officials of the apex bank, said the former governor needed to explain certain details regarding the infraction.

During the meeting, the Chairman of the Senate committee, Senator Isah Jibrin, (Kogi East), alleged that Emefiele unilaterally signed billions of naira in the approval of different tranches of the loans without following due process.

Bala Bello, one of the deputy governors of the apex bank led a team of CBN officials to the meeting held at the National Assembly.

“The committee of governors ought to be the signatories to the Ways and Means account but in the document we have here, the governor signed billions of naira in about 13 places,” the committee chairman said.

“We want to know the total figure of the Ways and Means. We want to know the summation of the figure.”

Although he commended the bank for the 70 percent implementation of Anchors Borrowers Programme of the bank, the committee insisted that the remaining 30 percent must be implemented.

He said, “On the Anchor Borrowers Programme, you have done well. You did about 70 per cent but we must ensure the completion of the remaining 30 per cent.

“Your governor who took over from Emefiele should be able to stand for Emefiele because he took over from him, including his assets.

“Emefiele should provide an explanation to the existing governor. We will invite the governor and in case he does not have a response, he will contact Emefiele.”

Also speaking, the Chairman, Senate committee on Ways and Means, Senator Isah Jubrin, said, “Where it is absolutely necessary, we will not hesitate to invite the former CBN governor, Emefiele.”