An ad-hoc committee set up by the Senate to investigate the disbursement of development funds to 36 states of the federation since 2017, has summoned the Minister of Finance, Zainab Ahmed; the Governor of the Central Bank of Nigeria, Godwin Emefiele, and others.The Senate, last week, based on a motion moved by Senator Ali Ndume on the alleged uneven disbursement of development funds to states by the Development Bank of Nigeria, set up a seven- member ad-hoc committee to probe the allegation.
He said, “Available information at the disposal of this committee shows that there are worries about the disbursement methodology employed by the Development Bank of Nigeria as not every MSMEs in the country, particularly in the north, knows about the bank. “There is also, the need for a critical review of the total amount disbursed to beneficiary MSMEs from inception to date and total recovery made , if any, will also be made .
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