The Nigerian Senate on Tuesday resolved to probe the disbursement of loans by the Development Bank of Nigeria from 2015 till date.
This is to ascertain its equitability across the country.
The Senate resolution followed a motion sponsored by Senator Mohammed Ali Ndume, representing Borno South Senatorial District, who stressed the need for investigation of the bank’s “disbursement of loans to NIRSAL and related Banks to Micro, Small and Medium Scale Enterprises, MSMEs, in Nigeria’, alleging that there was huge disparity in the disbursement of loans on geopolitical aggregation.
Ndume expressed concern that the bank had disbursed over half a trillion loan to business owners, but not in compliance with its mandate of equitable distribution, as much of the loan went to the Southwest geopolitical zone.
He said: “Aware that the Bank’s Annual Integrated Statutory Report, 2021 obtained on July 13, 2022 from organisation’s website showed that the bank disbursed a loan worth…
