NewStats: 3,261,804 , 8,175,212 topics. Date: Friday, 30 May 2025 at 03:52 PM 4f2x

by Tony Akowe, Abuja


The Office of the ant General of the Federation (AOGF) has said the Central Bank of Nigeria (CBN) allegedly misappropriated over N4.4 trillion the interest it charged on the Ways and Means advances it granted to the government.

It said the apex bank treated the Ways and Means advances as if they were a facility from local and foreign lenders and should therefore be asked to refund the over N2.7 trillion to the Federal Government.

The position of the ant General is contained in its response to a query from the OAGF on the consolidated financial statement of the Federal Government for the year ended December 31, 2021, submitted to the National Assembly by Auditor General Shaakaar Chira with reference number AuGF/AR.2021/01 and dated July 31, 2024.

The AGF had said in the 2021 audit report that “the Consolidated Revenue Fund (CRF) and four other Ministries, Departments and Agencies (MDAs) had overdrawn bank balances amounting to N17.106 trillion without evidence of approval by relevant authorities to the overdrawn bank s”.

Responding to the issue, which formed part of the 50 audit queries, the AGF said: “The CRF negative balance of N17,105,111,709,523.00, as at December 31, 2021, included actual Ways and Means advance of N4.4 trillion taken by government and interest charged on it for the sole use of the CBN as though the Ways and Means was a loan from CBN funds or from any syndicated group of lenders.

“The interest charged on Ways and Means by the CBN was misappropriated by CBN for its sole use, whereas the actual Ways and Means was not a facility from its funds or balance sheet nor was it a syndicated facility from a group of local and foreign lenders. CBN must therefore refund to the Federal Government of Nigeria the interest of N2.73 trillion it cornered for its sole use as of December 31, 2021.”

https://thenationonlineng.net/2021-audit-cbn-cant--for-n2-73tr-interests-on-ways-means-advances/

Have mercy o Lord

Okay naw

how can 2.7 trillion be missing...nawa ooo. naija i hail...we are truly ' fantastically corrupt' .

Emefiele should be using the remaining of his years behind bars. It just can't get any worse than this...

Emefiele go chop plenty beans in kuje.

Emefi-Ole really looted the nation sha
2.7 trillion…
Omoh…
Omoh…
Omoh…

I can’t stop saying Omoh….

Emefile remains the worst thing to happen to Nigeria second only after Buhari.

It's normal here

I mean it's nothing



The right news would have been; the cbn governor bags 200 years imprisonment for misappropriating fund

PDP was just a cover up...

I'm sure there are over a million Dasuki in APC

Wait till they leave power and you will see the irreversible destruction they've caused

Why look further when you can look in the direction of the 754 luxury duplexes by Olefiole

dre11:


https://thenationonlineng.net/2021-audit-cbn-cant--for-n2-73tr-interests-on-ways-means-advances/

Aye wan ti laba

E-BOLA Tinubu is a hardened criminal




I wonder how Yoruba land will look like when Sharia law enforcement begins

Even TPain did not for the money saved from subsidy removal

Lol cardoso

The way and manner money disappears in this country is with impunity and enough to have ruined this country. Not one person will be used as a scapegoat. The other day, a govt official who masterminded the biggest stealing in China was sentenced to death. I wish that's possible in Naija.

U think say na leaves Emefiele use buy land and develop over 700 duplexes for Abuja.... Abuja oh

While Fulani and Yoruba squandered the common wealth, the owners in the east and south are onlookers.

Fantastic corruption going on in Nigeria..

What did Buhari the kwaraption fighter do when he saw the audit

Not exactly so. But let it .

Naija politicians too lucky ajeh.

CBN should explain how they used the money and refund same ASAP

Emefele

Buhari and Emefiele really did a huge one on Nigerians....

Emefiele mishandled and stole like rapture was gonno take place after Buhari's tenure....

Buhari and most Northern leaders are very dull and not fit to rule a complex nation like Nigeria.

By the time, another Northern president takes over, Nigeria will slide again to ruin.

Their philosophy about leadership is always about sharing the Southern Loots among their people and among some southern accomplices.

AlabiKILLER2023:
E-BOLA Tinubu is a hardened criminal




I wonder how Yoruba land will look like when Sharia law enforcement begins

Despite the 2021 boldly on the subject, you still had to blame Tinubu

He can’t be responsible for your lack of comprehension and understanding

Igbo Emefiele really killed Nigeria. But he is their messaih.

RevDesm0ndJuju:
Emefile remains the worst thing to happen to Nigeria second only after Buhari.

really? how is that?

ppogba:
Why look further when you can look in the direction of the 754 luxury duplexes by Olefiole

una leave president dey call Central bank governor fear dey catch una to call buhari and his fulani criminals?

Ykc2:
una leave president dey call Central bank governor fear dey catch una to call buhari and his fulani criminals?

na typical brain dead zombies Dey be

lawbabs:
Emefiele should be using the remaining of his years behind bars. It just can't get any worse than this...

He used the money for that 753 duplexes in Abuja