The Nigeria Labour Congress (NLC) has called on President Bola Tinubu to launch a thorough probe into the N30 trillion Ways and Means loans obtained by the administration of former President Muhammadu Buhari from the Central Bank of Nigeria (CBN).
NLC, in a statement signed by its President, Ayuba Wabba, on Thursday, said the massive borrowing by the Buhari regime was irresponsible and unsustainable, and had plunged the country into a deep economic and social crisis.
The NLC accused the Buhari administration of using the CBN as a “cash cow” to fund its extravagant and wasteful spending, without proper accountability and transparency.
Also the NLC expressed concern over the impact of the loans on the value of the naira, the inflation rate, the cost of living, and the security situation in the country.
The NLC said it was alarmed by the revelations made by the Senate, which resolved to set up an ad hoc committee to investigate how the N30 trillion loans were spent by the Buhari administration.
The Senate probe was a welcome development, but urged President Tinubu to go beyond that and initiate a comprehensive and independent inquiry into the matter.
Tinubu should not only seek to recover the looted funds, but also prosecute and sanction those who were involved in the financial malfeasance.
The NLC said it was ready to mobilize its members and the Nigerian people to demand for accountability and justice, and to resist any attempt to impose more hardship and suffering on the masses.
It was time for Tinubu to prove his commitment to the anti-corruption agenda and the welfare of Nigerians, by exposing and tackling the N30 trillion debt scandal.
The NLC said they hope Tinubu would not disappoint the expectations of Nigerians, who voted for him in 2023, to bring about a positive change and a better future for the country.
