The Nigerian Senate has inaugurated an ad-hoc committee to probe the Central Bank of Nigeria (CBN’s) Anchor Borrowers Programme, and Ways and Means.
The inauguration followed a move by the Red Chambers of the National Assembly (NASS), to probe CBN’s anchor borrowers programme, including details of monies recieved by the state governments, manufacturers, aviation, banks, and excess funding to the power sector, which have raised the current debt profile of the country.
The resolutions for the probe was arrived at after a debate on the anchor borrowers report of NASS’ Joint Committees on Banking, Insurance and Other Financial Institutions (BIOFI), Finance, National Planning, Agriculture, and Appropriation on the state of the economy.
ASHENEWS recalls that in an extensive debate in early February, Senator Adamu Aliero had argued that some state governors, including some retired ones in the Senate were beneficiaries of N18 billion as shock absorbers under the Ways and Means since 2015.
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The debate had led to some lawmakers suggesting that a special committee be set up to scrutinize the N30 trillion intervention disbursements (some of which were grants) and ways to mop them up.
In his inaugural address to the ad-hoc committee chaired by Senator Isah Jibrin representing Kogi East, the President of the Senate, Godswill Akpabio charged the committee to leave no stone unturned in its investigation expected to span six weeks.
He enjoined members of the committee to set aside personal and partisan interests, focus on the task at hand, and approach their responsibilities with utmost balance, devotion, and impartiality.
Recognizing the sensitivity of the investigation at hand, Senator Akpabio reminded them to constantly engage with relevant stakeholders and consultants, to provide invaluable insights while maintaining open lines of communication with the executive and the public, but disclosing no aspect of the report until the task is concluded.
On hi part, chairman of the adhoc committee vowed to carry out the assignment devoid of compromise, urging the executive to release information and consistently avail themselves to the committee.
The inauguration was attended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the CBN Governor, Olayemi Cardoso; the Accountant General of the Federation, Oluwatoyin Madein; the Auditor-General of the Federation, Shaakaa Chira; the Director General, Debt Management Office (DMO), Patience Oniha, beneficiary ministries, departments and agencies, institutions, states, local governments, and others.
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