The Senate Ad-hoc Committee investigating the N30 trillion Ways and Means facility has accused the Central Bank of Nigeria (CBN) of frustrating its efforts to uncover how the loans were utilized.

Committee Chairman Isah Jibrin alleged that the CBN has refused to provide necessary documents, delaying the completion of the assignment. This development has sparked concerns about the transparency of the loan process.

The committee was established to probe the loan disbursement and utilization, which occurred between 2015 and 2023. Financial experts have attributed the country’s inflation woes to excessive Ways and Means borrowing by the past government.

Jibrin expressed frustration over the CBN’s actions, stating that the committee would not tolerate further delays. The investigation is ongoing, with the committee determined to uncover the truth about the loan utilization.