The former Governor of the Central Bank of Nigeria, Godwin Emefiele, unilaterally agreed to the loan’s tranches without following due process
An ad hoc committee investigating the disbursement and use of the N30 trillion Ways and Means loan obtained by the former President Muhammadu Buhari administration from the CBN has discovered some infractions.
The chairman of the Committee, Isah Jibrin, disclosed this on Tuesday during an interactive session with a CBN team led by deputy governor Bala Bello.
In his statement, Jibrin said that the former Governor of the Central Bank of Nigeria, Godwin Emefiele, unilaterally agreed to the loan’s tranches without following due process.
The committee chairman was, however, not specific on the total amount of the billions of naira approved by Emefiele, though he said the former CBN boss illegally signed the money in 13 documents.
Jibrin, the Kogi East senator, said Emefiele ought to have approved the loans in conjunction with the CBN board of directors, but he unilaterally signed the loans contrary to the requirement of the CBN Act.
“The Committee of Governors ought to be the signatory to the ways and means account, but in the document we have here, the governor signed billions of naira in about 13 places.
“We want to know the total figure of the ways and means. We want to know the summation of the figure,” Jibrin said.
The committee chairman further said documents on the Anchors Borrowers Programme implemented by former President Buhari’s administration indicated that about 70 per cent of the programme had been executed.
“On the Anchor Borrowers Programme, you have done well. You did about 70 per cent, but we must ensure the completion of the remaining 30 per cent,” he said.
Jibrin, however, said the committee would summon the incumbent CBN Governor, Olayemi Cardoso, to give a detailed account of what he knew about the facility.
“Your governor who took over from Emefiele should be able to stand for Emefiele because he took over from him, including his assets.
“Emefiele should provide an explanation to the existing governor. We will invite the governor, and in case he does not have a response, he will contact Emefiele” he said.
