Would you like to receive notifications on latest updates of the following headlines?

Senate panel Committee Seeks Extension of N30tn Loans Investigation

POSTED ON April 26, 2024 •   Breaking News      BY Benedicta Bassey
The senate plenary/Photo credit: Punchng.com

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.”

READ ALSO
South-West Demands Five New States and Constitutional Recognition for Traditional Rulers in Ongoing Constitutional Review
BY Abiodun Saheed Omodara July 4, 2025 0

The demand for the establishment of five new states, the recognition of traditional rulers in the co...

READ ALSO
Federal High Court Orders Reinstatement of  Natasha Akpoti-Uduaghan, Calls Suspension "Excessive"
BY Abiodun Saheed Omodara July 4, 2025 0

A Federal High Court in Abuja ruled on Friday that the Nigerian Senate exceeded its authority by sus...

READ ALSO
Calls for Autopsy: Ondo Govt. Faces Pressure to Exhume Late Governor Akeredolu's Body
BY Abiodun Saheed Omodara June 30, 2025 0

The Ondo State Government may need to exhume the body of the late governor, Oluwarotimi Akeredolu, f...

READ ALSO
Tinubu to Discuss Sustainable Governance at BRICS Summit in Rio
BY Abiodun Saheed Omodara June 29, 2025 0

President Bola Tinubu arrived in Vieux Fort, Saint Lucia, on Saturday for the first leg of his two-p...

READ ALSO
Reps Launches Committee to Review CNG Policy Implementation
BY Abiodun Saheed Omodara June 27, 2025 0

The House of Representatives has formed an ad-hoc committee tasked with examining the Federal Govern...

READ ALSO
Nigeria Takes Bold Step towards Energy Independence with Naira-Based Crude Sales Initiative
BY Abiodun Saheed Omodara June 25, 2025 0

The Nigeria Export Processing Zones Authority, alongside the Federal Government’s One-Stop-Sho...

READ ALSO
IPMAN Links Rising Petrol Prices to Crude Oil Costs and Market Dynamics
BY Abiodun Saheed Omodara June 24, 2025 0

ABUJA, Nigeria (NAN) - The Public Relations Officer of the Independent Petroleum Marketers Associati...

READ ALSO
Tinubu Launches National Mechanised Farming Programme to Tackle Food Insecurity
BY Abiodun Saheed Omodara June 23, 2025 0

In a bid to combat food insecurity and encourage youth participation in farming, President Bola Tinu...

OUR CHANNELS:

PSG Triumphs over Bayern Munich 2-0, Advances to FIFA Club World Cup Semifinals
BY Abiodun Saheed Omodara July 6, 2025 0

Paris Saint-Germain (PSG), the European club football champion, has defeated Germany's Bayern Munich...


Ongoing Constitutional Review Aims to Empower Nigerians Against Unilateral Changes- Deputy Senate President
BY Abiodun Saheed Omodara July 6, 2025 0

In a significant step towards amending Nigeria's 1999 Constitution, the Deputy Senate President and...


Aregbesola Urges ADC Supporters to Maintain Civility Amid Political Tensions
BY Abiodun Saheed Omodara July 6, 2025 0

After the formal introduction of the African Democratic Congress (ADC) in Abuja, former Interior Min...


South-West Demands Five New States and Constitutional Recognition for Traditional Rulers in Ongoing Constitutional Review
BY Abiodun Saheed Omodara July 6, 2025 0

The demand for the establishment of five new states, the recognition of traditional rulers in the co...


Police Arrest Six After Abuja Market Killing
BY Abiodun Saheed Omodara July 6, 2025 0

At least six suspects connected to the killing that led to unrest at Gosa Market on Airport Road in...


Dengue Fever Outbreak, 86 Cases Confirmed
BY Abiodun Saheed Omodara July 6, 2025 0

EDO, Nigeria - The Ministry of Health in Edo State reported on Friday that there is an outbreak of d...


Former Arsenal Star Thomas Partey Charged with Multiple Sexual Offences
BY Abiodun Saheed Omodara July 6, 2025 0

Former Arsenal midfielder Thomas Partey has been formally charged with several sexual offences by th...


Federal High Court Orders Reinstatement of  Natasha Akpoti-Uduaghan, Calls Suspension "Excessive"
BY Abiodun Saheed Omodara July 6, 2025 0

A Federal High Court in Abuja ruled on Friday that the Nigerian Senate exceeded its authority by sus...


UK Govt. Bans Caregiver Jobs Major Changes for Nigerian Applicants
BY Abiodun Saheed Omodara July 6, 2025 0

Nigerians looking to move to the United Kingdom (UK) for better opportunities through caregiver job...


Liverpool Star Diogo Jota Dies Days After Wedding
BY Abiodun Saheed Omodara July 5, 2025 0

The forward for Liverpool and the Portugal national team, Diogo Jota, has tragically died at the age...


More Articles

Load more...

Menu