The Senate has again resolved to launch fresh probe into alleged uneven disbursement of N500 billion loan to the Medium and Small-Scale Enterprises (MSMEs) in the six geo-political zones by Development Bank of Nigeria (DBN) in 2021.
Reconsideration of the allegation by the Senate followed a motion moved to that effect by Senator Ali Ndume (APC Borno South) and 64 others during plenary on Wednesday.
It would be recalled that the 9th Senate had set up an ad-hoc panel to investigate the claim that the South-West, especially Lagos state, had the largest number of the loan beneficiaries of about 47 per cent of the entire loan.
The DBN officials then told the panel that they adhered strictly to the criteria set up by their regulators and not geopolitical zones considerations, in giving out loans.
Senator Ndume, who was visibly dissatisfied with the outcome of the last investigation and the committee’s recommendations, said there was the need for the Senate to look at the issue critically again owing to the huge disparity in the loan disbursement.
He said the Bank’s Annual Integrated Statutory Report 2021 showed that it disbursed a loan worth N483 billion in 2021.
He said out of the N500 billion, only 11 per cent went to the 19 northern states totaling N53 billion while Lagos alone got 47 per cent, which amounts to N227 billion.
Ndume said breakdown of the loan disbursement, according to the Bank’s report, further showed that Southwest got the lion share with 57 per cent of the total loan, estimated to be N274.7 billion.
He said South-south accessed 17 per cent (81.9 billion); North central and FCT, 11 per cent (53 billion); South east, nine per cent (43.3 billion); North west, five per cent (24 billion) and Northeast, a paltry one per cent (4.8 billion).
The Senate, after the debate, set up an ad hoc committee to carry out holistic investigation into the loan disbursement by DBN and report back to plenary in four weeks.
The seven- man panel is chaired by Senator David Umahi (APC Ebonyi South) while Senators Babangida Oseni, Ali Ndume, Banigo Ipalibo, Sani Musa, Chizoba Chukwu, and Adetokunbo Abiru, will serve as members of the ad-hoc committee.
