.Says reckless spending of the money landed Nigeria in food and security crises
The Senate Tuesday was thrown into a rowdy session and vowed to probe the totality of N30trillion Ways and Means spent by former President Muhammadu Buhari’s led federal government which according to it , was recklessly spent .
The Red chamber specifically alleged that reckless spending of the overdraft collected from the Central Bank of Nigeria ( CBN) , under Godwin Emefiele, largely accounted for food and security crises , bedeviling the Nation now .
It consequently resolved to set up an Ad – hoc committee , to carry out investigation on what and what the N30trillion Ways and Means were spent on by the immediate past government since details of such spendings , were deliberately not made available to the National Assembly .
The Ad- hoc committee which will be constituted on Wednesday this week, will also probe the N10trillion expended on Anchor Borrowers Scheme , the $2.4billion forex transaction out of $7billion obligation made for that purpose as well as other intervention programmes.
Senate’s resolutions on planned investigations , followed consideration of report of its joint committee on Banking , Insurance and other Financial Institutions , Finance , National Planning, Agriculture and Appropriation on State of the Economy after interactive sessions with Federal Government Economic management team .
The report consideration in plenary Tuesday, was very stormy with accusations and counter accusations by Senators largely from the 9th Senate on why and how the N22 .7trillion ways and means was passed by the the previous Senate in May 2023 and additional N7.2trillion passed on 30th December , 2023 by the 10th Senate.
Specifically , the Whip of the Senate , Senator Ali Ndume ( APC Borno South), in his contribution , blamed the Senate for approving the request without details from the then President ( Muhammadu Buhari) .
” When the N22.7trillion Ways and Means approval request was brought before the 9th Senate , I insisted that details of spendings made with it , should be provided before approval but the Senate then , went ahead and approve it ” , he said .
He was however countered by the Deputy President of the Senate , Senator Jibrin Barau , who said the decision taken then , was a collective one with caveat that the executive should provide details later , which was however not provided .
The President of the Senate , Senator Godswill Akpabio in his remarks said , as recommended by the committee , and supported by most of the Senators , thorough probe must be carried out on the N22.7trillion Ways and Means approved in May 2023 by the 9th Senate which later increased to N30trillion , with passage of the N7.2trillion accrued interest forwarded to us for passage in the December last year .
” The Food and Security crises confronting the Nation now , are traceable to the way and manner the said Ways and Means , were given , collected and spent .
” Details of such spendings must be submitted for required scrutiny and possible remedies , because what Nigerians want now , is food on their table , which must be given .
” Other recommendations made by the committee on the need for thorough investigation of the N10trillion Anchor borrowers programme , and other intervention programmes ,running into billions of dollars must be investigated .
” But as rightly recommended by the joint committee, security agencies should as a matter of national urgency combat all forms of insecurity across the country for farmers to access their farms for required food production , highly needed in the country now. “, he said.
According to Akpabio, the present 10th Senate is not a rubber- stamp Senate and as such, can never allow Nigerians to suffer for the wrong decision of the former administration.
Efforts by the immediate past President of the Senate, Senator Ahmad Lawan to justify the decision of the last administration failed to stop the lawmakers from voicing their anger on the action the previous Executive arm and the 9th National Assembly, noting that the approval of such unaccounted huge amount should not have been authorized by the Parliament.
