Senate to Probe N30 Trillion Loans and Anchor Borrowers’ Programme Done during Buhari Tenure

• Nigerian legislators have initiated a move to investigate the handling of funds during the administration of the immediate past head of state
• The Senate has formed a committee to examine how the N30 trillion Ways and Means loans obtained from the Central Bank of Nigeria were utilised
• The senate president, Goodwill Akpabio, emphasised the importance of shedding light on the handling of funds of such magnitude

On Monday, March 11, the Senate inaugurated an ad-hoc committee to investigate the N30 trillion Ways and Means loans of the Central Bank of Nigeria (CBN).

The committee has been tasked with probing how these loans were obtained and utilised by President Muhammadu Buhari’s administration.

In addition to the Ways and Means loans, the committee is also responsible for investigating the Anchor Borrowers’ Programme under the current administration, reported Daily Trust.

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Tinubu opens up on blaming Buhari for Nigeria's woes

The Ways and Means is a loan facility that the CBN uses to finance government budget shortfalls.

The establishment of this committee follows a report from joint committees on banking, insurance, and other financial institutions, as well as finance, national planning, agriculture, and appropriations.

These committees had previously interacted with the federal government’s economic management team.

During the inauguration event in Abuja, Senate President Godswill Akpabio stated:

“The probe panel is significant as it is charged with the investigation of the ways and means, including the Anchor Borrowers’ Programme.”

Tinubu refused to blame Buhari for economic woes

Earlier, Legit.ng reported that President Tinubu had distanced himself from members of his government, suggesting that the current dilapidated state of the country's economy is a result of actions taken by the previous administration headed by General Muhammadu Buhari.

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Tinubu stated that he does not make a habit of assigning blame and that he is now accountable for improving any deficiencies and loopholes in Nigeria's economy.

The president made the statement while speaking at the flag-off of Agric Mechanisation Revolution for Food Security in Minna, the Niger state capital on Monday, March 11.

Leader among the authors of the claim is the nation's minister of Finance and coordinating minister of the Economy, Wale Edun.

Tinubu's comment reads in part:

“When you read the papers, some of us are confused whether to abuse the present or the past (governments) or make excuses for the future.”

Source: Legit.ng