Senate Ensures Investigation Into N30 Trillion Ways And Means Remains Active

Senate Ensures Investigation Into N30 Trillion Ways And Means Remains Active....KINDLY READ THE FULL STORY HERE▶

The Nigerian Senate has firmly stated that its investigation into the utilization of N30 trillion through the ‘Ways and Means’ mechanism by former President Muhammadu Buhari’s administration from 2015 to 2023 remains active and is not stalled, contrary to recent online speculation………… CONTINUE READING

Senator Isah Jibrin, Chairman of the Senate Ad-hoc Committee overseeing the probe, debunked claims of inactivity, underscoring the committee’s commitment to thoroughness. He emphasized the importance of gathering comprehensive information from the Office of the Accountant General for the Federation to ensure a meticulous investigative process.

Initially mandated to conclude within six weeks after its inauguration in March, the committee’s pursuit of factual findings has necessitated additional time, given the gravity of the national assignment. Senator Jibrin clarified that their focus remains on uncovering precise details regarding disbursements under the ‘Ways and Means’ framework, including recipient identities, disbursement amounts, purposes, terms, and adherence to repayment schedules.

The ‘Ways and Means’ method, whereby the Central Bank of Nigeria aids government budget shortfalls, has historically strained economic stability due to increased liquidity and resultant inflation. In response, CBN Governor Olayemi Cardoso halted further advances under this program until outstanding debts are settled.

Senate President Godswill Akpabio, who inaugurated the 17-member ad hoc committee, emphasized the critical nature of their task and urged impartiality and diligence in their investigations. The committee comprises senators from diverse political affiliations and regions, reinforcing a bipartisan approach towards transparency and accountability.

The investigation’s progress underscores the Senate’s commitment to upholding democratic principles and serving the Nigerian populace by ensuring responsible fiscal governance.

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