Fresh Trouble for Emefiele as FG Uncovers Illegal Usage of N30 Trillion Ways and Means Loan.
The Central Bank of Nigeria’s (CBN) N30 trillion Ways and Means loan to the federal government is under scrutiny by an ad hoc committee, revealing irregularities in the approval process.
Read Also :Dollar to Naira Exchange Rate Black Market Today March 21, 2024: GBP, EUR to NairaÂ
Chairman of the committee, Isah Jibrin, disclosed on Tuesday that the former CBN governor, Godwin Emefiele, unilaterally signed numerous loan tranches worth billions of naira without proper authorization.
Jibrin emphasized that Emefiele’s actions violated the CBN Act, as approvals should have been granted by the committee of governors, including the governor and deputies, as per standard procedure.
He further stated that the current CBN governor, Olayemi Cardoso, will be summoned by the committee to provide insights into the loan procedures and his awareness of the matter.
Pay Attention to:Â New Born Baby Abandoned In Wild Park Bush In Jos
Additionally, reports suggest that Emefiele withdrew billions of dollars from Nigeria’s foreign reserves without the approval of former President Muhammadu Buhari, according to Ajuri Ngelale, spokesperson for President Bola Tinubu.
In a related development, Cardoso-led CBN has initiated a restructuring, resulting in the dismissal of some directors, signaling a shift at the top bank.
While these revelations unfold, the committee remains committed to uncovering the truth behind the illegal usage of the N30 trillion loan, holding individuals accountable for any wrongdoing.
Stay informed with Ejes Gist News – Your Source for Credible News in Nigeria Now.
