Akpabio Inaugurates Committee To Probe Ways And Means Under Emefiele-Led CBN

Akpabio has inaugurated a committee to probe the Ways and Means under the Emefiele-led CBN.

Glamtush reports that the Senate President, Godswill Akpabio, has urged the committee members investigating the payment of N30tn trillion “Ways and Means” secured from the Godwin Emefiele-led Central Bank of Nigeria (CBN), to leave no stone unturned as they must go after those involved.

This online newspaper understands that speaking on Monday in Abuja while inaugurating the 17-member ad-hoc Committee probing the N30tn ‘Ways and Means’, which was released as a loan to the Federal Government during the former President Muhammadu Buhari’s administration, Akpabio charged the committee to spend six weeks in carrying out the exercise.

Akpabio further admonished the lawmakers to shun personal and partisan interests, focus on the task at hand and approach their responsibilities with utmost balance, devotion and impartiality.

Recognising the sensitivity of the investigation at hand, Akpabio reminded them to constantly engage with relevant stakeholders and consultants to provide invaluable insights while maintaining open lines of communication with the executive and the public, but disclosing no aspect of the report until the task is concluded.

Akpabio said, “Today, we gather here with a common purpose – to inaugurate a crucial Ad-Hoc Committee. This committee, which was constituted following the report of the Joint Committees on Banking, Insurance and Other Financial Institutions; Finance; National Planning; Agriculture; and Appropriations after interacting with the Federal Government’s Economic Management Team, holds great significance as it is charged with the investigation of the ways and means, including the Anchor Borrowers’ Programme.

“The constitution of this committee is a testament to the Senate’s unwavering commitment to transparency, accountability, and good governance. it reflects our dedication to addressing the concerns of the Nigerian people and upholding the principles of democracy.

“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.”

The Senate “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 by 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.

“In carrying out your mandate, it is imperative that you engage with relevant stakeholders, experts, and organizations. Their valuable insights and perspectives will strengthen the credibility and comprehensiveness of your findings and recommendations. I urge you to remain open to constructive inputs and feedback, harnessing the knowledge and expertise of others to achieve your collective goal.”

Akpabio further enjoined the lawmakers to maintain open lines of communication with the public as they go about the dispensation of their duties.

“The Nigerian people must be kept informed of your progress and findings, as their trust and confidence in your work are of utmost importance. You must demonstrate your dedication to serving our nation with distinction and honour.

“I urge you to remember the gravity of the task before you. The future of our nation rests upon your shoulders, and you must approach this task with grave seriousness and determination. Guided by the principles of justice, fairness, and the common good, work tirelessly to ensure the responsible management of Ways and Means in Nigeria.”

“Together, let us uphold the values of transparency, integrity, and accountability as we work towards the responsible management of Ways and Means in Nigeria,” The Senate President added.

Meanwhile, the chairman of the ad-hoc committee, Jibrin said that they would not fail Nigerians on this issue.

He said, “The Ways and Means and the Anchor borrowers programme have occupied the public space in the last few months.

“There have been various distortions; the ways and means have aroused various forms of discussions amongst individuals and groups looking for opinions and interpretations.”

Senator Jibrin added The implication of this is that Nigerians are waiting for the result of this investigation.

“I want to assure you that we are going to carry out this assignment expeditiously without any form of compromise.

“I want to plead with concerned parties to please make documents available when we request them to make our work easier for us.

“We are going to do the very best that Nigerians would be very proud of.”

The committee which is led by Senator Jibrin Isah, (APC, Kogi East), has its members as Senators Asuquo Ekpenyong (APC, Cross River South); Mohammed Tahir Monguno, (APC, Borno North); Victor Umeh, (LP, Anambra Central) and  Olamilekan Adeola, (APC, Ogun West).

Others are Senators Sani Musa, (APC, Niger East); Aliyu Wadada, (SDP, Nasarawa); Abdul Ningi, (PDP, Bauchi Central) and Ipalibo Banigo Harry, (PDP, Rivers West).

The ‘Ways and Means’ is an overdraft taken directly from the Central Bank of Nigeria to solve contingency needs of the nation following approval and directive of the executive arm of government which would have to be ratified by the parliament.