The Senate Ad-hoc Committee on Ways and Means Advance has accused the Central Bank of Nigeria (CBN) of obstructing its investigation into the N30 trillion Ways and Means Advance and the Anchor Borrowers’ Programme under former President Muhammadu Buhari’s administration.
The committee raised this allegation after reviewing an interim report from its consultants at a meeting where members expressed frustration over the bank’s failure to provide crucial documents required for the probe. The committee, inaugurated a year ago by Senate President Godswill Akpabio, stated that the delay has significantly hindered progress.
Committee chairman, Senator Isah Jibrin, criticised the CBN for withholding vital information despite multiple requests, citing serious infractions in the preliminary findings.
He dismissed speculation that the Senate had been compromised, reaffirming its commitment to ensuring transparency and accountability in the management of public funds.
“The information we have here is not different from what we have heard all along. We handed over the documents to the consultants, and when they presented this interim report, we intended to wait for the final report,” Jibrin stated.
“But we have been forced to make this interim report public so that Nigerians understand where the problem lies—the Central Bank of Nigeria has consistently denied us the documents needed to complete this assignment. That is the truth.
“I have personally met with the Deputy Governor, Bala, at the CBN. Promises were made, but nothing materialised. The Clerk has visited multiple times, with no results. Even the consultants approached the CBN directly, yet nothing came of it.”
Although Hamisu Abdullahi, the CBN’s Director of Banking Services, claimed the bank had provided all the requested documents, Senator Jibrin refuted this, insisting the facts told a different story.
The committee issued a stern warning to CBN representatives, stressing the urgent need for full disclosure on how the funds were utilised to address Nigeria’s economic challenges.