The Senate Ad-hoc Panel probing the N30 trillion in Ways and Means expenditure incurred by the administration of former President Muhammadu Buhari said Monday that a report on the assignment was delayed due to the resolve of lawmakers to conduct a thorough investigation.
The Nigerian Tribune observes that from a deadline of six weeks when the Senate President, Sen. Godswill Akpabio, inaugurated the panel on March 11, the probe has now dragged on for 14 weeks, raising concerns among Nigerians over the fate of the much-awaited outcome of the investigation.
The original deadline had lapsed on April 26, following which the Chairman of the Panel, Sen. Isah Jibrin (APC, Kogi-East), sought an extension of time from the floor of the Red Chamber.
But, eight weeks on, for a total of 14 weeks, the Jibrin panel has yet to produce a report.
On Monday, Jibrin gave reasons the panel had delayed concluding the assignment, saying a decision to be thorough with the probe was one.
For instance, he said some government agencies relevant to the investigation, including the Office of the Accountant-General of the Federation (AGF), had yet to respond to requests sent to them to furnish the panel with vital information.
“The essence of an investigation is to come up with factual findings and not just to roll in a report within a specified timeframe.
“Investigation on the N30tn Ways and Means is on course and not in any way in limbo, as insinuated today.
“Some of the required findings have been made and are still being made, as clearly shown by a letter of reminder recently written to the office of the Accountant-General of the Federation,” Jibrin stated on Monday.
A copy of the letter sent to the AGoF on April 19 reads partly, “You may recall our earlier letter on the above subject dated May 27, 2024, requesting the following additional information on ways and means, which you have yet to respond to.
“The required information are details of disbursements under ways and means, names of the beneficiaries, amount/date of disbursements, purpose of the disbursements, terms of the disbursement (where applicable), repayment schedule (where applicable), and adherence to the repayment schedule.”
Ways and Means is a form of loan that the government uses through the Central Bank of Nigeria (CBN) to fund its budget shortfalls within five per cent limits of the previous year’s revenue.
However, over the years, governments breached the legal limits, worsening between 2015 and 2023 when the CBN acted under directives to carry out direct printing of the nation’s currency.
The current CBN Governor, Mr Olayemi Cardoso, has vowed that his management will not yield to any ways or means requests until the funds taken so far are repaid.
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