Senate to Summon Ex-CBN Governor, Emefiele, Over N30 Trillion ‘Ways and Means’

Regarding the N30 trillion “Ways and Means” advances made during President Muhammadu Buhari’s administration, the Senate has stated that it intends to call former Governor of the Central Bank of Nigeria, Godwin Emefiele.

This conclusion is the result of the present CBN leadership’s insufficient justifications for the transactions.

Senator Jibrin Isah, the Chairman of the Senate Committee on “Ways and Means” from Kogi East, revealed this following a meeting at the National Assembly in Abuja with representatives of the CBN, including the Deputy Governor.

READ ALSO: Senate Committee Receives Bank Directors For Stability

The Senate’s move is part of a broader inquiry led by Isah’s ad-hoc committee, established to scrutinize the acquisition and utilization of the CBN’s Ways and Means loans under Buhari’s tenure.

The committee is tasked with delving into the intricacies of the financial mechanism known as ‘Ways and Means,’ a facility that allows the CBN to cover government budget deficits.

Additionally, the probe extends to the examination of the Anchor Borrowers’ Programme, another financial initiative from the same period.

During the engagement with CBN representatives, Senator Isah unveiled that their preliminary findings indicated that Emefiele had autonomously authorized several transactions, an action the committee deems unlawful