N30 Trillion Ways and Means

Read Time:1 Minute, 46 Second

Committee tasked with investigating fund released by CBN for projects without details

N30 Trillion Ways and Means
In a significant development, the President of the Senate, Godswill Akpabio, on Monday, inaugurated an Ad-hoc Committee to investigate the utilization of N30 trillion Ways and Means advances under the administration of former President Muhammadu Buhari. The fund, which was released by the Central Bank of Nigeria (CBN) to finance various projects, lacked proper documentation despite the commitment from the executive arm of the government to provide details.

Attended by prominent government officials, including the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, CBN Governor Olayemi Cardoso, and other key stakeholders, the inauguration of the Committee aimed to address public concerns and shed light on the utilization of such a substantial sum of money.

The Committee was formed following the adoption of a resolution by the Senate Joint Committees on Banking, Insurance and other Financial Institutions; Finance; National Planning; Agriculture; and Appropriations. The 17-member Committee, led by Chairman Jibrin Isah representing Kogi East Senatorial District, was entrusted with the responsibility of conducting an impartial and confidential investigation into the matter.

During the inauguration, Senate President Akpabio emphasized the Senate’s commitment to transparency, accountability, and good governance. He urged the Committee members to approach their duties with patriotism, professionalism, and integrity, stressing the importance of leaving no stone unturned in the pursuit of truth. Akpabio further highlighted the public interest and the nation’s welfare as crucial aspects to consider throughout the investigation.

Chairman Jibrin Isah expressed the Committee’s dedication to fulfilling its assigned task. He assured Nigerians that the panel would not compromise its responsibility, given the immense interest surrounding the utilization of the N30 trillion Ways and Means advances.

This development comes as Nigerians eagerly await the findings of the Committee, which will shed light on how the funds were utilized and pave the way for potential legislative actions aimed at improving the country.

The outcome of this investigation holds significant implications for transparency, accountability, and the overall governance of Nigeria, as it strives to address public concerns and uphold democratic principles.