The Nigerian Senate Ad-hoc Committee on Ways and Means Advance has accused the Central Bank of Nigeria (CBN) of deliberately obstructing its investigation into the N30 trillion Ways and Means Advance and the Anchor Borrowers’ Programme under the administration of former President Muhammadu Buhari.
The accusation came after the committee received an interim report from its consultants, revealing that the CBN had failed to provide crucial documents necessary for the probe. The committee, inaugurated a year ago by Senate President Godswill Akpabio, expressed frustration over the bank’s lack of cooperation, stating that it has significantly stalled the progress of the investigation.
Senator Isah Jibrin, chairman of the committee, criticized the CBN for withholding vital information despite multiple requests. He dismissed speculations that the Senate had been compromised, reaffirming its commitment to ensuring accountability in the management of public funds.
“The problem is that the Central Bank of Nigeria has consistently denied us the documents we need to complete this assignment,” Jibrin said. “We have made several efforts, including direct engagements with CBN officials, but nothing has come out of it.”
Although Hamisu Abdullahi, the Director of Banking Services at the CBN, claimed that the apex bank had provided all requested documents, Jibrin refuted the claim, stating that the facts suggested otherwise.
The committee has issued a strong warning to the CBN, emphasizing the need for full disclosure on how the funds were utilized, as concerns continue to mount over financial transparency and accountability in Nigeria’s economic management.
