The Senate will investigate Emefiele and Buhari's government for some 30 trillion naira

 The Senate will investigate Emefiele and Buhari's government for some 30 trillion naira The Senate of Nigeria has resolved to conduct a...

 The Senate will investigate Emefiele and Buhari's government for some 30 trillion naira

The Senate of Nigeria has resolved to conduct an investigation into how the former Muhammadu Buhari government used the 30 trillion naira loans it received from the country's central bank.

Buhari's government has used the system called 'Ways and Means' by the Central Bank of the country, where it is provided with funds to cover the deficit from its budget.

The Senate said that the way these funds borrowed from the central bank were spent illegally under the leadership of Emefiele is the cause of the food crisis the country is currently facing.

That is why the parliament has decided to form a committee to investigate how the Buhari government spent the 30 trillion naira, pointing out that it was deliberately refused to give the parliament information on how the money was spent.

The committee, which will be launched this Wednesday, will also investigate the loan of 10 billion naira under the Anchor Borrowers' farmers' loan program, as well as foreign exchange transactions amounting to 2.1 billion dollars. 4.

This is coming at a time when the problem of high food prices and rising prices of consumer goods, the fall of the naira and security problems continue to plague Nigerians.

The president of Nigeria, Bola Tinubu and his economic team have come under fire after withdrawing the fuel subsidy he did, and reverting to a single currency exchange system, putting the people of the country in dire straits.