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The Senate Ad-hoc Committee tasked with scrutinizing the Ways and Means Advance has pointed an accusing finger at the Central Bank of Nigeria (CBN), alleging that the institution is stonewalling its efforts to unravel the details of the N30 trillion Ways and Means Advance and the Anchor Borrowers’ Programme, both legacies of former President Muhammadu Buhari’s tenure.
The charge surfaced following a briefing where the committee reviewed an interim report from its hired consultants, voicing exasperation at the CBN’s persistent refusal to furnish essential documents critical to the investigation—a roadblock that has left the probe mired in delays. Launched a year ago under the directive of Senate President Godswill Akpabio, the panel emphasized that this obstruction has severely hampered its ability to move forward.
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Senator Isah Jibrin, the committee’s chair, delivered a sharp rebuke to the CBN, decrying its reluctance to release key records despite repeated appeals, and hinted at significant irregularities uncovered in the bank’s preliminary submissions—findings that only deepen the urgency of the inquiry.
Brushing aside whispers that the Senate might have been swayed or grown dormant, Jibrin staunchly defended the chamber’s resolve, pledging an unwavering commitment to upholding transparency and accountability in how public resources are stewarded, a stance aimed at reassuring a watchful electorate.
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“The information we have here is not different from what we have heard all along. What we did was to hand over the documents to the consultants, and when the consultants made available to us this interim report, our intention was to hold onto the interim report on the final report,” he said.
“But we’ve been compelled to make available this interim report to the general public so that they know that we let them know where the problem is, and the problem is that the Central Bank of Nigeria has denied us consistently the documents that we need to complete this assignment. That is the truth.
He mentioned that it was at the Central Bank of Nigeria (CBN) where he had met Bala, the deputy governor, and they had made promises, but nothing had resulted from those promises. He noted that the Clerk had visited several times, yet nothing had come of it. He also pointed out that the consultants themselves had taken the initiative to approach the CBN directly, as they had been introduced to the bank, but still, nothing had come of it.
