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Senate tasks committee on thorough investigation of N30trn “Ways and Means” funds
Senate has urged its ad-hoc committee to ensure thorough investigation of the N30 trillion “Ways and Means” disbursed by Central Bank of Nigeria(CBN)during administration of former President Muhammadu Buhari.
NAN report that Ways and means is a loan facility through which the Central Bank of Nigeria (CBN) provides short-term financing to cover the government’s budget shortfalls.
President of Senate, Godswill Akpabio gave the charge on Monday in Abuja at the inauguration of the 16 member ad-hoc committee investigating the utilisation of the ways and means fund.
Akpabio said the constitution of the committee was a testament to Senate’s unwavering commitment to transparency, accountability, and good governance.
According to him, it reflects dedication to addressing concerns of Nigerian people and upholding the principles of democracy.
Akpabio said the Senate had taken a resolution to look at the issues of the ways and means.
According to him, a request on the expenditure on ways and means fund had been earlier requested by the Senate, saying that it was never provided for by the Accountant General of the Federation and the Central Bank of Nigeria(CBN) Governor .
This, he said resulted in a major motion that led to a composition of an ad-hoc committee to look at the ways and means, adding that totality of the ways and means issues somehow was connected to the hardship faced by Nigeria at the moment.
Akpabio said it was incumbent on the Senate to look at issues and unbundle the expenditure involved in the ways and means to see how it was utilised.
This, he noted was for the benefit of Nigerian people and the Tinubu’s administration.
He said the thorough inquiries was designed to dig out information, and urged members of the committee to approach their responsibilities with utmost sense of patriotism, professionalism and integrity.
“Your investigation demands impartiality and fairness, always keeping the public interest and the welfare of our nation at the forefront.
“We must leave no stone unturned in our pursuit of the truth.
“Therefore, conduct thorough inquiries and dig out information that will assist the Senate in making laws for the betterment of our country.
“The success of this ad-hoc committee hinges on collaboration, cooperation, and a steadfast commitment to the common good.
” Let us set aside personal and partisan interests, focusing solely on the task at hand, by working harmoniously, we can ensure that the Ways and Means in Nigeria are managed prudently, efficiently, and in accordance with the law.”
Akpabio urged the committee to carry out the investigation by engaging with relevant stakeholders, experts, and organisations on the ways and means expenditure.
He said the valuable insights and perspectives of the stakeholders would strengthen the credibility and comprehensiveness of their findings and recommendations.
“I urge you to remain open to constructive inputs and feedback, harnessing the knowledge and expertise of others to achieve your collective goal.
“As you embark on this vital mission, please maintain open lines of communication with the public.
“The Nigerian people must be kept informed of your progress and findings, as their trust and confidence in your work are of utmost importance.
“You must demonstrate your dedication to serving our nation with distinction and honor.”Akpabio said.
Chairman of the Committee Sen.Isa Jibril (APC Kogi,) thanked Senate for the opportunity to serve Nigeria as members of the committee.
He said the ways and means and the anchor borrower programme had occupied public discourse in the last three months with individuals and groups giving different interpretations.
He said Nigerians were ready m to see the outcome of the investigation, saying that the committee would carry out the assignment expeditiously without any form of compromise.
He urged all stakeholders connected to the investigation to avail the committee all necessary documents required and make themselves available for interface with the committee.
A group of concerned citizens has raised the alarm over an alleged plot to sabotage President Bola Ahmed Tinubu’s reforms on local refineries.
The group, Concerned Nigerians led by its National Coordinator Obinna Francis, claims to have uncovered a sinister plot to stop the supply of crude oil to domestic refineries.
According to Francis, the plot is being orchestrated by a cabal within the Nigerian National Petroleum Company Limited (NNPCL), in collaboration with importers of fake petrol.
The group alleges that this cabal is seeking to undermine the government’s economic reforms, which have led to a significant reduction in fuel prices and a subsequent decrease in the cost of food items.
The concerned citizens believe that the plot is driven by a desire to return Nigeria to the era of petrol importation and the reintroduction of subsidies.
They argue that cutting off crude oil supply to domestic refineries would create a shortage of refined products, forcing the country to import fuel.
The group claims that the cabal has been manipulating officials in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to justify the planned refusal to supply crude oil to local refineries.
They also allege that the cabal has the support of individuals seeking regime change, who hope to capitalize on public anger and protests to bring down the government.
Francis added: “The members of the cabal, working through certain officials of NNPCL, have been manipulating their colleagues in the NUPRC, which has responsibility for overseeing the supply of crude oil to refineries in Nigeria.
“Their plot includes sabotaging exploration and distribution infrastructure to justify the planned refusal to cut off crude supplies. This unholy alliance has the support of individuals who have been angling for a regime change.
“Our suspicion is that while the NNPCL/NUPRC cabal pursue the monetary gains of truncating the steady supply of refined products, their political wing anticipates that a disruption in refining capacity would lead to petrol scarcity, drive fuel prices up and hike food prices with the attendant anger against the government of the day.
“They desire to weaponize such public anger into anti-government protests that would bring the administration down. We are concerned that if not stopped, this plot will undo all the gains that have been made in the implementation of economic reforms of President Bola Ahmed Tinubu’s government and doom us all.
“We are further concerned that such a plot at this critical time of our economic evolution would plunge the country into an abyss from which it may never resurface.”
The concerned citizens are calling on President Tinubu and the Department of State Services (DSS) to intervene and prevent the plot from being executed. They praised the president’s economic reforms, which have driven Nigeria towards energy sustainability and revived the oil industry.
The group warned that if the plot is not stopped, it would undo all the gains made by the government and plunge the country into economic chaos.
They urged the president to ensure that no one in NNPCL, NUPRC, or any other connected agency undermines the achievements recorded in the sector.
Actor-turned-politician Desmond Elliot has become a hot topic online after a video surfaced showing his emotional reaction on Monday, shortly after Mojisola Meranda resigned as Speaker of the Lagos State House of Assembly.
Earlier, SPEARNEWS reported that Ms Meranda announced her resignation during a plenary session.
Following her resignation, the impeached Speaker, Mudashiru Obasa, was reinstated to his former position.
In a viral video, Mr Elliot, who represents Surulere Constituency 1 in the Assembly, was emotional over Ms Meranda’s resignation.
Dressed in a black native outfit, the 51-year-old attempted to deliver a farewell speech but was overcome with emotion and struggled to hold back tears.
At one point in the viral video, he found it difficult to continue speaking and requested that another lawmaker take the floor while he composed himself.
“Madam Speaker, can you allow others to speak first?” he asked.
Ms Meranda responded, “Have your seat,” prompting him to sit down, covering his face with one hand as he wiped away tears.
Seyi Lawal, an All Progressives Congress (APC) representative from Ikeja Constituency 1, was granted permission to speak in place of Mr Elliot, who has served in the House since April 2015.
Kano State government has made arrangements to feed 91,000 people in 91 designated centres during the 2025 Ramadan Feeding Programme.
Flagging off the feeding programme in m Fagge Local Government Area on Sunday evening, the Deputy Governor and Chairman of the programme, Alhaji Aminu Abdulsalam, said that that the initiative would run for 27 days.
He said that the programme was aimed at supporting vulnerable residents and would provide daily iftar meals to fasting Muslims, alleviating the challenges faced during Ramadan.
“Since the assumption of office, Gov. Abba Kabir-Yusuf, has institutionalised this initiative to support vulnerable residents by providing daily iftar meals during the holy month of Ramadan.
“The programme, which is part of the state’s annual humanitarian efforts, aims to alleviate the difficulties faced by fasting Muslims during Ramadan.
“Recognising the needs of the state’s large population of Ramadan observers, the Kano State Government remains committed to ensuring that relief reaches those in need,” he explained.
Abdulsalam expressed satisfaction with the seamless commencement of the initiative.
He further urged the catering companies involved to ensure prompt and efficient delivery of meals to all feeding centers, in order to achieve the programme’s objectives.
Abdulsalam was accompanied by key officials, including the Commissioner for Information and Internal Affairs, Ibrahim Waiya, as well as his counterpart in the Ministry of Religious Affairs, Sheikh Tijjani Auwal. (NAN)