Heads to Roll as Tinubu Begins Probe of N30 Trillion Overdraft During Buhari’s Wasteful Tenure

Tinubu Launches Inquiry into CBN’s N30 Trillion Overdraft During Buhari’s Tenure

In a bid to ensure transparency and accountability, Senator Bola Tinubu has initiated a probe into the alleged N30 trillion overdraft provided by the Central Bank of Nigeria (CBN) during the administration of former President Muhammadu Buhari.

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The Senate President, Godswill Akpabio, inaugurated an ad hoc committee tasked with investigating the Ways and Means Advances released by the CBN to fund various projects.

Despite the funds passing through the National Assembly, there were no accompanying details, raising concerns about transparency. Akpabio emphasized the importance of impartiality, urging committee members to handle the investigation with confidentiality and without compromise.

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The ad hoc committee, comprising 17 members and chaired by Jibrin Isah representing Kogi East, was formed based on the resolution of the Senate Joint Committees on Banking, Insurance and other Financial Institutions; Finance; National Planning; Agriculture; and Appropriations.

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Akpabio underscored the Senate’s commitment to transparency, accountability, and good governance, directing the committee to demonstrate patriotism, professionalism, and integrity. He highlighted the public’s anticipation for clarity on how substantial sums of money were utilized, urging the committee to conduct a thorough inquiry.

Committee chair Jibrin Isah assured the Senate of their dedication to a meticulous investigation.

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The committee’s inauguration was attended by key figures, including the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; CBN Governor Olayemi Cardoso; the Accountant General of the Federation, Oluwatoyin Madein; the Auditor-General of the Federation, Shaakaa Chira; the Director-General of the Debt Management Office (DMO), Patience Oniha, and representatives from beneficiary ministries, departments, and agencies.

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