Business Politics

Senate resumes probe as AGF submits N30tn mortgage paperwork

The Senate panel probing the N30tn Ways and Means loans secured from the Godwin Emefiele-led Central Bank of Nigeria by the Federal Government has obtained extra paperwork from the Office of the Accountant General, The PUNCH has learnt.

As a end result, the panel is ready to renew bodily sitting after learning the paperwork.

The panel had written to the OAGF looking for further paperwork to deepen its inclined of the controversial N30tn mortgage obtained by the President Muhammadu-led administration.

However, a number of sources who spoke on situation of anonymity as a result of they weren’t authorised to talk on the matter on Sunday, confirmed that the paperwork arrived on the National Assembly on Thursday.

“The documents from the Office of the Accountant General regarding the probe of the N30tn Ways and Means came on Thursday; the documents have been given to the chairman and the members of the panel,” one of many Senate sources advised our correspondent.

Also confirming the event, the Chairman of the Panel, senator Isah Jibrin ( APC, Kogi East), stated the AGF had despatched the paperwork to the National Assembly.

He stated, “ Yes, the documents have come from the AGF and have been distributed to all panel members. At the moment, we are all studying it and once that is concluded we will resume physical meetings hopefully by next week.”

He added, “Nigerians can be assured that we will ensure due diligence and see that we do not let them down.  Like I earlier said, we had never stopped working on the probe, we just needed more documents and now that we have them, nothing can hold us back.”

 On Tuesday, February 20, the Senate resolved to analyze the N30tn mortgage, citing that the alleged reckless spending of the overdraft from the CBN largely contributed to the present meals and safety crises within the nation.

Related News

After its inauguration, the panel recognized 13 infractions allegedly dedicated within the technique of acquiring the mortgage from the CBN.

However, a media Report (Not PUNCH) had stated that the committee had gone into limbo after discovering out that the Ways and Means loans permitted underneath Emefiele had been about N7tn and never N30tn as claimed by the Senate.

Responding to the media report,  Jibrin clarified that the figures underneath investigation weren’t in dispute.

Showing proof of the letter despatched to the Office of the Accountant-General of the Federation, Jibrin had stated, “We have not gone into limbo; we only needed additional documents from the Accountant-General’s office to continue the interface. The amount under probe is N30tn. I don’t know why people are spreading falsehood to achieve a selfish purpose.”

The letter dated June 19, 2024, and signed by Jibrin was titled: ‘Request for Submission of Additional Information’.

The PUNCH experiences that throughout the Ninth Assembly, President Buhari, in a letter dated December 20, 2022, requested the restructuring of the collected N22.7 tn Ways and Means loans, alongside an extra N1 trillion primarily for funding the N819.5bn 2022 supplementary price range, totalling N23.7tn.

In his request, President Buhari defined, “The Ways and Means are advances from the Central Bank of Nigeria to the federal authorities for emergency funding as a consequence of delayed fiscal deficits. As of December 19, 2022, the steadiness of Ways and Means was N22.7tn.

“I have approved the securitisation of these balances under the following terms: Amount, N23.7tn; Tenure, 40 years; Moratorium on principal repayment, three years; Interest rate, 9 per cent. Your concurrence and approval are sought to allow for the implementation of the same.”

After the Ahmad-Lawan-led Ninth Senate handed the N23.7 trillion, the Tenth Senate, on December 30, 2023, additionally permitted for President Bola Tinubu, the securitization of the excellent debit steadiness of N7.3tn of the Ways and Means Advance within the Consolidated Revenue Fund of the Federal Government.



About Author

You may also like


Take a Look Back on the Most Absurd Carpet Ever

  • July 16, 2022
There are many variations of passages of Lorem Ipsum available but the majority have suffered alteration in that some injected

Will The Demo Crats Be Able To Online Gambling Ban Done!

  • July 20, 2022
There are many variations of passages of Lorem Ipsum available but the majority have suffered alteration in that some injected