AGF Hands Over N30tn Loan Documents, Senate Probe Resumes

AGF Hands Over N30tn Loan Documents, Senate Probe Resumes

The Senate panel investigating the controversial N30tn Ways and Means loans obtained from the Central Bank of Nigeria under the leadership of Governor Godwin Emefiele has received additional documents from the Office of the Accountant General, signaling a resumption of physical sessions.

Sources familiar with the matter confirmed that the documents were delivered to the National Assembly on Thursday, prompting the distribution to panel members for review.

Chairman of the Panel, Senator Isah Jibrin (APC, Kogi East), acknowledged the receipt of the documents and stated, “Yes, the documents have arrived from the AGF and have been distributed to all panel members. We are currently studying them, and once complete, we plan to resume physical meetings, likely next week.”

Jibrin reassured Nigerians of the panel’s commitment to thoroughness, saying, “We will ensure due diligence and uphold our responsibilities to the public. Despite the need for additional documents, our efforts have never wavered, and now that we have these, we will proceed without delay.”

The Senate initiated the probe into the N30tn loan following a resolution on February 20, citing concerns over alleged reckless spending contributing to national crises. The panel has identified multiple infractions in the loan acquisition process.

In response to recent media reports questioning the scope of the investigation, Jibrin clarified, “The amount under scrutiny remains N30tn, and any contrary claims are baseless. We continue to pursue transparency and accountability in this matter.”

President Buhari previously sought approval to restructure the accumulated N22.7tn Ways and Means loans, alongside additional funding for the 2022 supplementary budget, totaling N23.7tn. The Senate under Ahmad Lawan subsequently approved the securitization of these balances.

With ongoing scrutiny over the use and management of these funds, the Senate’s diligence remains crucial in ensuring fiscal responsibility and transparency in Nigeria’s financial affairs.