The Senate Ad-hoc Committee probing the N30trillion Ways and Means Advances facility granted the former President Muhammadu Buhari-led administration by the Central Bank of Nigeria on Monday denied that the exercise has been abandoned.
![](https://thenigerialawyer.com/wp-content/uploads/2026/06/ELLAN.png")
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
Chairman of the Committee, Senator Isah Jibrin (APC – Kogi East), made this assertion in a statement in Abuja while reacting to an online report which alleged that the investigation is in limbo.
The Ad-hoc Committee Chairman in the rebuttal, attached a letter of reminder it wrote the Accountant General for the Federation requesting for further vital information to assist the panel’s investigative activities.
Senator Jibrin, who doubles as Chairman, Senate Committee on Customs and Excise Duties, explained though the Ad-hoc Committee was given six weeks to carry out the exercise and report back to the Senate during its inauguration in March but the need for carry out a thorough exercise had made the committee to exceed the time.
“The essence of an investigation is to come up with factual findings and not just roll in report within specified time frame.
“Investigation on the N30trillion Ways and Means, is on course and not in anyway, in limbo, as insinuated by an online platform today.
“Some of the required findings have been made and still being made as clearly shown by a letter of reminder recently written to the office of Accountant General of the Federation,” he said.
The letter dated 19th June, 2024 by Senator Isah Jibrin and titled: “Request for Submission of Additional Information” reads: “You may recall our earlier letter on the above subject dated 27th May, 2024, requesting for the following additional information on Ways and Means, which you are yet to respond to.
“The required information are: Details of disbursements under Ways and Means, Names of the beneficiaries, Amount/date of disbursements, purpose of the disbursements, terms of the disbursement (where applicable), repayment schedule (where applicable) and adherence to the repayment schedule.”
Ways and Means is a loan facility through which the Central Bank of Nigeria (CBN), finances the Federal Government’s budget shortfalls.
This type of loans usually result in macroeconomic instability, leading to inflation and high exchange rates because of the excess liquidity injected into the economy.
The CBN Act limits advances under ways and means to five per cent of the previous year’s revenue, but this has been mostly breached over the years.
As a way of remedying the situation, the CBN Governor, Yemi Cardoso, declared in February the apex bank would no longer grant Ways and Means Advances to the Federal Government “until all outstanding debts are refunded.”
The book also examines Nigeria's legal ecosystem, focusing on the LPELR and NBA AI Guidelines. As a bonus, every purchase comes with a FREE eBook titled: How to Use the AI Features in LegalPedia and LawPavilion.
Ohio Books Ltd praises the publication, stating:
"....this is the only Nigerian book I know of on the topic."
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
Authored by Ben Ijeoma Adigwe Esq., ACIarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria.
_______________________________________________________________________
“Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
