Senate To Engage Ministers, Others On N30trn Ways And Means Expenditure

Senators Isa Jibrin (Kogi West), Sahabi Ya’u Alhaji (Zamfara), Adamu Aliero (Kebbi Central) are among lawmakers that will unravel the mystery behind the spending of the Central Bank of Nigeria (CBN) Ways And Means spending in the anchor borrowers programme.

Other senators inaugurated by Senate President Godswill Akpabio to unbundle the N30 trillion Ways and Means expenditure are Mukhail Adetokunbo Abiru (Lagos East), Asuquo Ekpenyong (Cross Rivers South), Tahir Monguno (Borno North) Victor Umeh (Anambra Central), Solomon Olamilekan Adeola (Ogun West) and Sani Musa (Niger East).

Others who are part of the investigative panel that have six weeks to return their report are: Abdul Ningi (Bauchi Central), Aliyu Wadada (Nasarawa West), Ipalibo Harry (Rivers West), Jimoh Ibrahim (Ondo South), Ibrahim Mohammed Bomai (Yobe South), Joel Onowakpa (Delta South) Ede Dafinone (Delta Central) and Aminu Iya Abbas (Adamawa Central).

The investigative committee which is chaired by Sen Jibrin Isa (Kogi East), is to interface with the Minister of Finance, Minister of National Planning, the Accountant General of the Federation, the Auditor General of the Federation, the DG, Debt Management Office, the Central Bank of Nigeria (CBN) and other stakeholders.

While inaugurating the committee that will investigate the N30 trillion Ways And Means and the N10 trillion Anchor Borrowers Programme, Akpabio said they should not leave any stone unturned and recover the money.

“We want to unbundle the expenditure in ways and means. We can see if money is still remaining, we can recover it for the Nigerian people,” Akpabio said.

Akpabio said the committee is crucial which followed a report of a joint committee on Finance, Banking Insurance and other financial institutions to unravel the issues surrounding the anchor borrowers programme and the spending of the CBN Ways And Means.

He said the investigation is to address the issues and uphold the principle and the tenet of democracy.

Akpabio urged the committee to use every avenue and leave no stone unturned in the pursuit of transparency for the betterment of the country.

“The constitution of this committee is a testament to the Senate’s unwavering commitment to transparency, accountability, and good governance. It reflects our dedication to addressing the concerns of the Nigerian people and upholding the principles of democracy.

“To the members of this esteemed committee, I implore you to approach your responsibilities with the utmost sense of patriotism, professionalism and integrity,” Akpabio said.

“Your investigation demands impartiality and fairness, always keeping the public interest and the welfare of our nation at the forefront. We must leave no stone unturned in our pursuit of the truth. Therefore, conduct thorough inquiries and dig out information that will assist the Senate in making laws for the betterment of our country,” the Senate President added.

According to him, the success of the Ad-Hoc committee hinges on collaboration, cooperation, and a steadfast commitment to the common good.

“Let us set aside personal and partisan interests, focusing solely on the task at hand. By working harmoniously, we can ensure that the Ways and Means in Nigeria are managed prudently, efficiently, and in accordance with the law.

“Moreover, confidentiality is paramount to your work. The information and data we gather during our investigations are sensitive and must be handled with the utmost care and discretion. Adhering to strict protocols will ensure the security and integrity of the information you uncover.

“In carrying out your mandate, it is imperative that you engage with relevant stakeholders, experts, and organizations. Their valuable insights and perspectives will strengthen the credibility and comprehensiveness of your findings and recommendations. I urge you to remain open to constructive inputs and feedback, harnessing the knowledge and expertise of others to achieve your collective goal,” Akpabio said.

Speaking, the chairman of the committee, Jibrin Isa while accepting the responsibility to investigate the mysterious spending, said the ways and means and the anchor borrowers’ programmes occupies space with various discussions taking place.

“The implications is that Nigerians are waiting for the results of this investigation.

“We are going to carry out this assignment expeditiously without compromise,” Jibrin said, adding that all relevant agencies should make documents available when they require them, including invitations.

“We are going to do our best and Nigerians will be proud of our work,” Jibrin said.