Senate to probe Buhari govt, over N30tn CBN loans

The Senate has resolved to probe how the N30tn Ways and Means loans of the Central Bank of Nigeria was obtained and spent by the administration of former President Muhammadu Buhari.
The development came as biting food crisis, rising inflation, naira depreciation and worsening insecurity continue to take tolls on Nigerians.
The senate stated that the reckless spending of the overdraft collected from the CBN under Godwin Emefiele largely accounted for the food and security crises the country is currently facing.
The red chamber then resolved to set up an ad hoc committee to investigate what the N30tn overdraft was spent on by the immediate past government, noting that the details of the spending were deliberately not made available to the National Assembly.