Politics
Senate Engages AGF, Holds Meeting With Cardoso Over N30tn Loan Investigation
Senate Engages AGF, Holds Meeting With Cardoso Over N30tn Loan Investigation....KINDLY READ THE FULL STORY HERE▶
The Nigerian Senate’s Ad-hoc Committee, tasked with investigating the N30 trillion Ways and Means facility utilized by the President Muhammadu Buhari-led administration, has formally requested essential documentation from the Office of the Accountant General for the Federation……….. CONTINUE READING
Senator Isah Jibrin, Chairman of the Committee representing APC Kogi-East, affirmed the committee’s anticipation of these documents, countering online claims suggesting the investigation was stalled. He stressed the committee’s commitment to meticulousness, extending beyond the initially allocated six-week timeframe to ensure thorough factual findings.
Jibrin emphasized, “Our investigation into the N30 trillion Ways and Means is actively progressing, contrary to recent online speculations. We have already made significant findings and continue to pursue necessary information, as evidenced by our recent reminder letter to the Office of the Accountant General of the Federation.”
In a letter dated June 19, 2024, the Senate panel reiterated its request for detailed information on Ways and Means disbursements, including beneficiary names, amounts and dates disbursed, purposes, terms, repayment schedules, and adherence to these schedules.
According to reports from The PUNCH, President Buhari had previously sought approval for restructuring the accumulated N22.7 trillion in Ways and Means loans, with an additional N1 trillion allocated for the 2022 supplementary budget, totaling N23.7 trillion. Following approval by the Ninth Senate under Ahmad Lawan, the Tenth Senate later authorized the securitization of the remaining N7.3 trillion debit balance within the Consolidated Revenue Fund of the Federal Government on December 30, 2023.
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