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01 May, 2024

Senator Asuquo Ekpenyong Requested for Thorough Submission From Officials Charged with The Responsibility for Disbursement and Management of The over N30 Trillions Federal Government Funded Through Ways and Means from The Central Bank over The Past 8 Years

On Friday, 30th of April, The Senate Adhoc Committee on Ways and Means engaged with key government officials including the Accountant General of the Federation, Auditor General of the Federation, Director General Debt Management Office, Ministry of Finance, and Central Bank of Nigeria.

The Adhoc committee, established on Monday, March 11th, has been tasked with investigating the disbursement of over N30 Trillion by the Federal Government funded through ways and means from the Central Bank over the past 8 years.

Senator Asuquo Ekpenyong requested a more thorough submission from officials who were charged with responsibility for the disbursement and management of the funds. He gave the opinion that a significant portion of these funds were injected into the FX markets, and is responsible for hyperinflation and the currency crisis the country is currently facing. This must be investigated to prevent future occurrences, for the sake of future generations.

Edited 10:24 pm - 01 May, 2024

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