President Bola Tinubu has appointed a special investigator to probe the Central Bank of Nigeria (CBN) and related entities.
The special investigator appointed is Jim Osayande Obazee, the Chief Executive Officer (CEO) of the Financial Reporting Council of Nigeria (FRCN).
The President made the appointment via a letter addressed to Obazee.
The letter in part 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).
“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.”
Recall that President Tinubu had on June 10, 2023, suspended Godwin Emefiele as the Governor of CBN with immediate effect.
Section 11 of the CBN Act, 2007 gives the President power to terminate the appointment of the apex bank governor, but such must have the backing of lawmakers.
Emefiele’s suspension follows an ongoing investigation of his office and the planned reforms in the financial sector of the economy, according to a statement by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey.
In the statement, Emefiele was directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who is to act as the CBN governor pending the conclusion of the investigation and the reforms.
The CBN listed the Deputy Director, Operations Directorate, as Mr Folashodun Adebisi Shonubi.
Emefiele was subsequently arrested at his Lagos home on 10 June and immediately flown to Abuja to face interrogation by the Department of State Services (DSS) and charged to Federal High Court in Ikoyi, Lagos.
In his ruling, the judge, Nicholas Oweibo, said the charges against the defendant were bailable, and granted Emefiele a N20 million bail with one surety in like sum.
Emefiele, through this lawyer, Joseph Daudu, had earlier moved his bail application before the judge during which he pleaded not guilty to two counts of illegal possession of firearms and live ammunition.
Emefiele, was appointed as the apex bank’s governor on June 4, 2014.
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