The Senate has announced its intention to investigate the alleged reckless spending of N30 trillion in Ways and Means by the former President Muhammadu Buhari-led Federal Government.

The Senate contends that the overdraft collected from the Central Bank of Nigeria under Godwin Emefiele’s leadership contributed significantly to the current food and security crises gripping the nation.

To unravel the mystery behind these expenditures, the Red Chamber has opted to establish an ad-hoc committee tasked with scrutinizing the utilization of the N30 trillion.

This committee, set to be constituted imminently, will also delve into the N10 trillion allocated to the Anchor Borrowers Scheme and scrutinize the $2.4 billion forex transaction out of a $7 billion obligation, along with other intervention programs.

The Senate’s decision comes on the heels of a stormy session where accusations and counter-accusations were hurled regarding the approval of the N22.7 trillion Ways and Means by the 9th Senate in May 2023, followed by an additional N7.2 trillion passed in December 2023 by the 10th Senate.

Senator Ali Ndume, among others, criticized the lack of details accompanying the approval, while Deputy Senate President Jibrin Barau defended the decision, citing an understanding that details would be provided later.

Former Senate President Ahmad Lawan urged the Senate to focus on the present, emphasizing the pressing need to address the hunger and distress currently faced by Nigerians.

Senate President Godswill Akpabio echoed this sentiment, stressing the necessity for a thorough probe into the Ways and Means allocations to ensure transparency and accountability.

Akpabio emphasized the imperative for security agencies to combat insecurity, allowing farmers access to their lands for food production.

Credit: Punch