…be patriotic, confidential -Akpabio urges Ad-hoc Committee

…Buhari never approved most multi-billion Dollars CBN expenses -Tinubu’s Spokesman

The Nigerian Senate has inaugurated an ad-hoc committee to probe the Buhari administration’s N30trn ways and means, anchor borrowers programme which was managed by the Central Bank of Nigeria (CBN) under the governorship of Mr. Godwin Emefiele.

The committee will in six weeks probe details of the programmes based on monies given to state governments, manufacturers, aviation, banks, excess funding in the power sector, amongst others which raised the current debt profile of the country.

Addressing the ad-hoc Committee members, President Of The Senate, Distinguished Senator Godswill Akpabio charged them to be patriotic and confidential in discharging their mandate.

Akpabio said “To the members of this esteemed committee, I implore you to approach your responsibilities with the utmost sense of patriotism, professionalism and integrity. Your investigation demands impartiality and fairness, always keeping the public interest and the welfare of our nation at the forefront. We must leave no stone unturned in our pursuit of the truth. Therefore, conduct thorough inquiries and dig out information that will assist the Senate in making laws for the betterment of our country.

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“The success of this Ad-Hoc committee hinges on collaboration, cooperation, and a steadfast commitment to the common good. Let us set aside personal and partisan interests, focusing solely on the task at hand. By working harmoniously, we can ensure that the Ways and Means in Nigeria are managed prudently, efficiently, and in accordance with the law.

“Moreover, confidentiality is paramount to your work. The information and data we gather during our investigations are sensitive and must be handled with the utmost care and discretion. Adhering to strict protocols will ensure the security and integrity of the information you uncover,” Akpabio said.

The inauguration was attended by the Minister of Finance and Coordinating Minister of the Economy; Wale Edun, the CBN Governor; Olayemi Cardoso, Accountant General of the Federation; Oluwatoyin Madein, Auditor-General of the Federation; Shaakaa Chira, Director General, Debt Management Office; Patience Oniha, beneficiary Ministries Departments and Agencies, Institutions, States, Local Governments, and others.

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In a related development, Chief Ajuri Ngelale, Spokesman of President Bola Tinubu on Media and Publicity, has mentioned that the former president, Muhammadu Buhari, had no knowledge of the depletion of foreign reserves by the ex-Central Bank Governor, Godwin Emefiele.

In a recent chat, Ngelale mentioned that most of the big expenses from the foreign reserves, reaching billions of dollars, were not approved by the former president.

The president’s spokesperson said that the CBN governor is in charge of most of the apex bank’s operations and also serves as the chairman of the bank’s board of directors.

“What was done concerning the expenditure of billions of dollars from the foreign reserves was done largely without the approval or knowledge of President Muhammad Buhari and President Bola Tinubu.  

“Yes, that might seem hard for some people to believe, but I want to explain how that could have happened.  

“We have one of the few Central Banks in the world where the day-to-day CEO was the governor of the Central Bank and was also the chairman of the board of directors. He was essentially overseeing himself,” Ajuri said.

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