CBN frustrating probe into N30trn ‘ways and means’ advance — Senate panel

The Senate Ad-hoc Committee investigating the N30 trillion Ways Means advance incurred by the administration of former President Muhammadu Buhari, on Tuesday, accused the Central Bank of Nigeria (CBN) of frustrating the probe.

Close to a year after the Senate set up the Sen. Isah Jibrin-led panel, it has yet to conclude the assignment and produce a report.

The panel is also proving the Anchor Borrowers’ Programme of the former administration.

At the resumed sitting of the committee at the National Assembly in Abuja, where consultants and CBN officials were in attendance, members of the ad-hoc committee criticised the apex bank’s failure to provide crucial documents required for the probe.

They noted that this singular factor had practically stalled the work of the panel for nearly one year.

Sen. Jibrin, who expressed the frustrations of the committee, noted that the CBN withheld vital information, despite multiple requests it made to the bank.

Jibrin complained that the inability of the panel to make much progress with the assignment had created the wrong impression in the minds of Nigerians that senators had “been compromised.”

He stated, “This is most painful, especially that it is not the correct position of what is happening.

“We have made several attempts to obtain the necessary documents, but the CBN has just been promising, and has remained uncooperative. This lack of transparency is delaying our investigation.”

The committee warned the bank that it would not take kindly to further delays by the CBN by not responding to its requests, directing further that all necessary documents must be submitted to the secretariat of the panel before the next adjourned date for sitting.

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