The Senate Ad-hoc Committee investigating the N30 trillion Ways and Means facility granted to the federal government between 2015 and 2023 has accused the Central Bank of Nigeria (CBN) of obstructing its efforts by withholding crucial documents.
Committee Chairman, Senator Isah Jibrin (Kogi East), made this allegation on Tuesday after receiving an interim report on the investigation. He stated that the CBN’s refusal to provide necessary records has significantly delayed the probe’s progress.
The Ways and Means facility, a controversial loan arrangement under former President Muhammadu Buhari and ex-CBN Governor Godwin Emefiele, has been widely blamed for exacerbating Nigeria’s inflation crisis. In response to growing public concern, the Senate formed a nine-member committee on February 27, 2024, to scrutinize the loan’s disbursement and utilization.
Almost a year later, Jibrin criticized the CBN’s lack of cooperation, emphasizing that no relevant documents had been submitted despite repeated requests. He warned that unless a high-ranking official, such as a deputy governor, attends future hearings, the committee would not entertain further engagements with lower-level CBN representatives.
Jibrin further disclosed that the committee had no choice but to make its interim report public to highlight the obstacles faced in the investigation. He asserted that the central issue was the CBN’s consistent refusal to provide essential documentation, hindering efforts to uncover how the N30 trillion was utilized.
