The Senate ad hoc Committee investigating the N30tn Ways and Means facility from 2015 to 2023 has leveled serious allegations against the Central Bank of Nigeria (CBN), accusing it of obstructing the probe into how the loans were secured and utilized by the previous administration. The committee, chaired by Senator Isah Jibrin, claims that vital documents have been deliberately withheld, impeding their investigation.
Senator Jibrin revealed during a meeting on Tuesday evening that his team’s consultants had produced an interim report based on the limited information available. However, the senator contended that none of the necessary documents had been received from the CBN, which he accused of failing to meet its obligations to the committee.
The inquiry focuses on the reckless spending of the overdraft facility under former CBN Governor Godwin Emefiele—a move the Senate asserts significantly contributed to the country’s ongoing food and security crises. The committee was tasked with examining the processes through which the N30tn overdraft was obtained and deployed, highlighting concerns over transparency and accountability in the usage of public funds.
During the session, Senator Jibrin expressed mounting frustration over repeated assurances from the CBN. He criticized visits to the bank and meetings with deputy governor Bala, claiming that despite promises, the required documents were never provided. He warned that without full disclosure, the committee’s work would be compromised, and public trust in the institution would further erode.
In response, the CBN representative, Hamisu Abdullahi, maintained that all requested documents had been sent to the designated email address and offered to resend the folder if needed. Abdullahi insisted that the bank had complied fully with the committee’s demands, countering the allegations of obstruction.
