During an engagement with the Senate Committee on Finance, the Minister of Finance, Wale Edun, voiced concerns over the purported aimless utilization of N22.7 trillion in Ways and Means loans during the previous administration. Edun emphasized that this substantial sum, obtained under former CBN governor Godwin Emefiele and President Buhari’s tenure, was expended without clear direction, contributing significantly to the current economic challenges, including rising inflation and food insecurity.
The minister underscored the necessity for a comprehensive audit of the Central Bank of Nigeria’s printing activities over the past eight years under the prospective leadership of Bola Tinubu. Edun’s remarks highlight the commitment of Tinubu’s government to transparency and accountability in financial management, as it aims to address the lingering economic crises and ensure sustainable growth for Nigeria.
In a recent address to the Senate Committee on Finance, the Minister of Finance highlighted concerns regarding the purported aimless utilization of N22.7 trillion in Ways and Means loans during the previous administration. He emphasized that this significant sum, acquired under the leadership of former CBN governor Godwin Emefiele and President Buhari, was utilized without clear direction, exacerbating the nation’s economic challenges, particularly in the realms of food and security.
