Senate President Inaugurates Ad-Hoc C’tee to Probe ₦30 Trillion Release by CBN under Buhari

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Abuja, March 11, 2024 – The Senate President, His Excellency Senator Godswill Obot Akpabio, on Monday, inaugurated the Senate Ad-Hoc Committee on Ways and Means. The committee, chaired by Senator Isah Jibrin of the APC and Vice chaired by Senator Sahabi Ya’u (PDP, Zamfara North), includes Senator Asuquo Ekpenyong of the APC (Cross River South), Senators Adamu Aliero (PDP, Kebbi Central), Tokunbo Abiru (APC, Lagos East), Aminu Iya Abbas (PDP, Adamawa Central), Asuquo Ekpenyong (APC, Cross River South); Ipalibo Banigo Harry (PDP, Rivers West); Victor Umeh (LP, Anambra Central); Solomon Olamilekan (APC, Ogun West); Sani Musa (APC, Niger East); Aliyu Wadada (SDP, Nasarawa West); Abdul Ningi (PDP, Bauchi Central); and Tahir Monguno, (APC, Borno North) as members of the committee which is tasked with investigating the release of ₦30 trillion by the Central Bank of Nigeria to the previous administration.

In his inauguration remarks, Senator Akpabio highlighted the significance of the committee’s constitution, emphasizing the Senate’s unwavering commitment to transparency, accountability, and good governance. He called on the committee members to approach the assignment with a high sense of patriotism, professionalism, and integrity.

The probe into the substantial release of funds by the Central Bank of Nigeria adds a new dimension to the ongoing efforts to ensure financial responsibility and good governance in the country. The Senate, through this ad-hoc committee, aims to shed light on the circumstances surrounding the allocation of ₦30 trillion during the previous administration.

Senator Isah Jibrin, as the committee chair, expressed his readiness to lead a thorough and unbiased investigation. He assured the Senate President and the Nigerian public that the committee would diligently carry out its mandate to uncover any irregularities and provide a comprehensive report.

This move by the Senate aligns with the legislative body’s constitutional duty of oversight and scrutiny of government activities. As the committee begins its work, Nigerians anticipate that the investigation will contribute to promoting financial prudence, accountability, and good governance.

The Senate President’s call for patriotism and professionalism underscores the gravity of the task at hand, emphasizing the importance of holding public officials accountable and maintaining the highest standards in public service.

As the Ad-Hoc Committee on Ways and Means begins its probe, it marks another step in Nigeria’s pursuit of a transparent and accountable government.

Present at the inauguration of the committee were; the Minister for Finance, Wale Edun, Minister for Budget and National Planning, Atiku Bagudu, CBN Governor, Olayemi Cardoso, the Auditor General of the Federation, Shaakaa Chira, the Accountant General of the Federation, Oluwatoyin Sakirat Madein, amongst others.