The Senate has inaugurated an Ad-Hoc Committee to investigate the Ways and Means, including the Anchor Borrowers Programme by the Central Bank of Nigeria (CBN).
Lead by the President of the Senate, Godswill Akpabio and other senators to the inauguration, the move comes after a decision by the Red Chamber to probe details of the programmes based on monies given to state governments, manufacturers, aviation, banks, excess funding in the power sector, amongst others which raised the current debt profile of the country.
This was part of resolutions of the Senate after a debate over the report of the National Assembly Joint Committees on Banking, Insurance and other Financial Institutions (BIOFI), Finance, National Planning, Agriculture and Appropriation on the state of the economy.
The inauguration was attended by the Minister of Finance and Coordinating Minister of the Economy; Wale Edun, the CBN Governor; Olayemi Cardoso, Accountant General of the Federation; Oluwatoyin Madein, Auditor-General of the Federation; Shaakaa Chira, Director General, Debt Management Office; Patience Oniha, beneficiary Ministries Departments and Agencies, Institutions, States, Local Governments, and others.
