THE Senate Tuesday resolved to investigate how the N30 trillion it approved for the Federal Government under former President Muhammadu Buhari was spent.
The lawmakers agreed to set up an ad hoc committee to carry out a thorough investigation on how the N30 trillion Ways and Means was spent, claiming that reckless spending of the overdraft collected from the Godwin Emefiele-led Central Bank of Nigeria largely accounted for the food and security crises presently facing the country.
The Senate said that the immediate past government intentionally did not make details of the spending available to the National Assembly.
The Whip of the Senate, Senator Ali Ndume (APC, Borno South), in his contribution, blamed the Senate for approving the request without details from then-President Muhammadu Buhari.
“When the N22.7 trillion 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 approved it,” he said.
The ad-hoc committee, which will be constituted on Wednesday, 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.