Tinubu enlists services of Special Investigator to probe CBN activities

By Ologeh Joseph Chibu

A Special Investigator has been appointed to probe the Central Bank of Nigeria, (CBN).

President Bola Tinubu enlisted the services of the Special Investigator at the weekend based on what a source told Irohinoodua was “monumental fraud” at the apex bank.

The Special Investigator is the Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN)
Jim Osayande Obazee.

The letter stated “You are to investigate the CBN and related entities using a suitably experienced, competent and capable team and work with relevant security and anti-corruption agencies to deliver on this assignment. I shall expect a weekly briefing on the progress being made.”

The Special Investigator is to probe the activities of the CBN in the past years including but not limited to the role of the former CBN Governor, Mr Godwin Emefiele and other related Government Business Entities (GBEs).

Obazee is expected to report directly to the President
The letter reads
“In accordance with the fundamental objective set forth in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), this administration is, today, continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities. This appointment shall be with immediate effect and you are to report directly to my office.”

“The full terms of your engagement as Special Investigator shall be communicated to you in due course but, require that you immediately take steps to ensure the strengthening and probity of key Government Business Entities (GBEs), further block leakages in CBN and related GBEs and provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments (whether private or public).

A lot of shady deals were said to have characterised the last leadership of Emefiele especially in the last three years that he spent as the CBN Governor.

“He opened the vaults to all sorts of criminal activities. He turned the CBN into a vehicle for partisan politics. The CBN deviated from its core duties but started performing duties of Commercial Banks. We estimate that the corruption in the CBN under his leadership should be in the range of 10billion dollars. The little information about funds he gave to vested interests shocked the Presidency” a source at the CBN told Irohinoodua.