The Senate Ad-hoc Committee investigating the Ways and Means loans from the Central Bank of Nigeria (CBN) has reported that commercial banks are yet to pay back N358 billion out of the credit given them under the apex bank’s Anchor Borrower Programme (ABP).
The chairman of the committee, Sen. Isah Jibrin; made this disclosure at its first interactive meeting with officials of CBN, led by the Deputy Governor, Corporate Services, Mr. Bala Bello, in Abuja.
The lawmaker, pointed that the committee discovered that repayment on the loans had been very slow and the committee charged the apex bank management to vigorously pursue the recovery of the loans from the commercials banks guaranteed by them .
In doing this, the lawmakers asked the CBN to discuss with the management of the affected commercial banks to quickly recover the loans, adding that failure by them could compel the the apex bank to directly debit their accounts.
To facilitate its ongoing investigations on the Ways and Means loans, the Senate Committee urged the CBN’s management to furnish it with relevant documents.
