Posted 3/4/2024, 12:15:52 AM
Senate Panel to Probe $30 Billion in CBN Loans to Buhari Government
- Senate to quiz CBN officials over $30bn in loans from central bank to Buhari administration
- Loans were meant to fund budget deficits and address national needs, but details on spending not provided to parliament
- Senate committee wants to know government agencies and individuals that benefited from loans
- Also wants to understand terms, conditions, collateral, and repayment status of loans
- Goal is to understand impact of lending on current economic and food security crises, not to witch-hunt