The Senate Ad-hoc Committee investigating the N30 trillion Ways and Means loans to the Federal Government has found 13 violations in the loan acquisition process.
The Senate also announced that it will call the Central Bank of Nigeria governor, Olayemi Cardoso, to appear before them.
This was revealed during a meeting between the Committee's Chairman, Senator Isah Jibrin (Kogi East), and other committee members with CBN officials at the National Assembly on Tuesday.
The group of CBN officials was headed by Bala Bello.
The special committee is looking into how the N30 trillion Ways and Means loan, obtained during former President Muhammadu Buhari's administration from the CBN, was distributed and used.
Jibrin stated that the former CBN governor, Godwin Emefiele, unilaterally approved billions of naira for various parts of the loan without following the correct procedures.
The lawmaker from Kogi said that Emefiele signed billions of naira in 13 documents illegally.
The committee chairman mentioned that Emefiele should have approved the loans together with the CBN board of directors, but he unilaterally signed them, which goes against the CBN Act.
Jibrin explained, “The committee of governors should have been the signatories to the Ways and Means account but the governor signed billions of naira in about 13 places according to the document we have here.
“We want to know the total amount of the Ways and Means. We want to know the total figure.”
The committee chairman also observed that documents he has on the Anchors Borrowers Programme under former President Buhari's administration show that about 70% of the program has been completed, leaving 30% unfinished.
He stated, “You have done well on the Anchor Borrowers Programme. You completed about 70% but we must ensure that the remaining 30% is finished.”
However, Jibrin informed them that the committee will call the CBN governor, Cardoso, to give a detailed account of his knowledge about the Ways and Means.
“Your governor who took over from Emefiele should be able to speak for Emefiele because he succeeded him along with his assets.
“Emefiele should provide an explanation to the current governor. We will invite the governor, and if he does not have a reply, he will contact Emefiele,” he added.
