The Senate Ad-hoc Committee has directly accused the Central Bank of Nigeria (CBN).
It claims that the CBN hinders its investigation into the N30 trillion Ways and Means Advance.
Consequently, the committee expressed frustration over the bank’s lack of cooperation, which delays transparency and accountability.
This obstruction raises concerns about the CBN’s commitment to addressing financial irregularities.
Therefore, the Senate demands immediate action to ensure the investigation proceeds without further interference.
During a recent meeting, committee members reviewed an interim consultant report.
They criticized the CBN for its repeated failure to provide critical documents, which delays their progress significantly.
Chairman Senator Isah Jibrin expressed frustration over the apex bank’s uncooperative stance.
He stressed that accessing its records is crucial for exposing potential financial misconduct committed under former President Buhari.
Despite repeated requests, the obstruction persists, hampering efforts to scrutinize public fund management.
Senator Jibrin criticized the CBN’s actions, describing them as a deliberate attempt to hinder transparency and accountability.
“The Central Bank of Nigeria has denied us consistently the documents that we need to complete this assignment. That is the truth,” he stated.
He also revealed that multiple efforts to retrieve these documents failed to yield results.
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The committee clerk visited, and consultants engaged directly with CBN officials, yet none of these actions produced the needed information.
A year ago, Senate President Godswill Akpabio inaugurated the committee to investigate how funds under the Ways and Means Advance were utilized.
However, Jibrin emphasized that, despite repeated promises from CBN representatives like Deputy Governor Bala, obtaining necessary information remains challenging.
Hamisu Abdullahi, Director of Banking Services at the CBN, claimed that the bank had provided all requested documents.
However, Senator Jibrin refuted this assertion, emphasizing that the facts presented in their interim findings contradict Abdullahi’s claims.
In response to these challenges, the committee decided to make its interim report public to ensure transparency and inform Nigerians about the obstacles faced in the investigation.
“Our intention was to hold onto the interim report until we had a final report,” Jibrin explained.
“We have chosen to release this interim report to the public to clarify the root of the problem,” the committee emphasized.
Additionally, they issued a firm warning to CBN representatives, highlighting the necessity of full disclosure to assess how the funds addressed Nigeria’s economic challenges.
The Senate reiterated its dedication to accountability and transparency in managing public funds.
Furthermore, it dismissed claims of compromise or neglect in its oversight duties, reaffirming its commitment to responsible governance.
Meanwhile, the investigation into the N30 trillion Ways and Means Advance continues as the committee persistently seeks crucial documentation from the Central Bank of Nigeria to ensure a thorough and transparent process.
