The Senate Ad-hoc Committee investigating the N30 trillion Ways and Means Advances granted to the previous administration has refuted claims that the probe has been abandoned.
Committee Chairman, Senator Isah Jibrin, stated that the investigation is ongoing, despite exceeding its initial six-week timeframe. He emphasized the need for thorough fact-finding over rushing to meet deadlines.
To support his claim, Jibrin shared a recent reminder letter sent to the Accountant General of the Federation requesting additional information on the disbursements, including beneficiaries, amounts, dates, and purposes.
The Ways and Means facility, used by the Central Bank of Nigeria to finance government budget shortfalls, has faced criticism for exceeding legal limits and potentially causing economic instability under the administration of former President Muhammadu Buhari.
In response to these concerns, current CBN Governor Yemi Cardoso announced in February that the bank would cease granting such advances until outstanding debts are repaid.
