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The Senate panel looking into the N30 trillion Ways and Means loans that the Federal Government obtained from the Central Bank of Nigeria, which is led by Godwin Emefiele, has announced that it will ask for an extension of the investigation's designated time frame.
Senate President Godswill Akpabio assigned the panel a six-week deadline to look into the loans at the panel's commencement on March 11, 2024.
The panel was also tasked with investigating the CBN's over N1 trillion Anchor Borrowers' Program during the previous government and urged to look into every possibility.
Subsequently, the committee headed by Senator Isah Jibrin (APC, Kogi East) declared that it had discovered roughly 13 financial violations purportedly made during the loan application procedure.
The Senate also disclosed that it would summon the Governor of the CBN, Olayemi Cardoso, and some directors of the apex bank particularly those who worked with Emefiele.
The committee also disclosed it had received some documents that would aid the probe, adding that some government officials involved in the loan would be summoned.
The six-week ultimatum for the investigation elapsed on April 26, 2024.
Responding to the failure to meet the deadline, the chairman of the panel, Jibrin appealed to the senate for an extension of the time once the Senate resumes.
He said, “The Senate has been on recess for about a month now, we will seek an extension when we resume. We will ensure that a thorough job is done.”
