Senate Probes Buhari, Others Over N30trn Ways And Means Funds

…Claims reckless spending cause of current nation’s woes

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…As commotion characterises debate

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The Senate, on Tuesday, unanimously resolved to probe the N30 trillion Ways and Means spent by former President Muhammadu Buhari- led administration, which according to the lawmakers, was recklessly spent.

The Senate passed the resolution following consideration of the report of its Joint Committee on Banking, Insurance and Other Financial Institutions, Finance, National Planning, Agriculture and Appropriations on the state of the economy, after interactive sessions with the Economic Management Team of the Federal Government.

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The apex legislative Assembly 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, currently bedevilling the country.

Accordingly, it resolved to set up an Ad- hoc Committee, to carry out an investigation on what the N30 trillion Ways and Means were spent on by the immediate past government since details of such spending, were deliberately not made available to the National Assembly.

The Ad- hoc Committee which will be constituted tomorrow, will also probe the N10 trillion expended on the Anchor Borrowers Scheme, the $2.4 billion forex transaction out of the $7 billion obligation made for that purpose as well as other intervention programmes.

Meanwhile, the debate provoked serious commotion in the Senate, as Senators engaged in accusations and counter-accusations on why and how the N22.7 trillion Ways and Means was passed by the 9th Senate in May 2023 and an additional N7.2 trillion passed on 30th December 2023 by the 10th Senate.

The Chief 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 spending should be provided before approval but the Senate then, went ahead and approved 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 the caveat that the executive should provide details later, which was however not provided.

Although the debate over the funds had progressed seamlessly, trouble started when Senator Ali Ndume, representing Borno South Senatorial District, insisted that the Senate had acted illegally by allowing funds drawn from CBN, and already expended to be brought to the Parliament for approval.

“The ‘Ways and Means’ fund is an overdraft of funds drawn from the Central Bank of Nigeria following emergency and contingency needs of the Federal Government. The funds having been spent would be sent to the National Assembly for approval and ratification after the funds have been expended,” he argued.

Ali Ndume cited relevant sections in the 1999 Constitution of the Federal Republic of Nigeria as amended, noting that the Senate lacked powers to approve funds already spent.

The altercation deepened when Senator Mohammed Danjuma Goje, argued that the Upper legislative Chamber had the power to approve anything amount of money already spent by any agencies of government.

Ndume insisted that he was not part of the plenary which approved the Ways and Means in advance but it was required that after funds were spent, the Executive was expected to revert to the National Assembly with details of how the funds were expended.

He noted that the report presented lacked details, saying, “Mr President, I was not part of the plenary that gave the nod for Ways and Means but the detail of funds spent was not provided. This is illegal.”

Amid the rancorous debate, Senate President, Godswill Akpabio, insisted that details be provided, noting that the 10th Senate would not be a rubber stamp for anyone.

Akpabio said, “We are where we are today as a result of illegal things done in the past and I think details of Ways and Means must be provided.”

Akpabio in his remarks said, as recommended by the Committee and supported by most of the Senators, the thorough probe must be carried out on the N22.7 trillion 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 spending 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 a 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.