The Central Bank of Nigeria, or CBN, and Related Entities are being investigated by a Special Investigator that President Bola Tinubu has appointed.
Jim Osayande Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN), was appointed as the special investigator by President Tinubu in a letter dated July 28, 2023, sent to him.
The letter, which the President personally signed, stated that Obazee would be obliged to take urgent action to stop additional leaks from the CBN, maintain probity, and improve important government commercial enterprises. It further stated that the full conditions of Obazee’s involvement would be given later.
The letter states that the special investigator must report directly to the president and must compile a thorough report on the public assets that are currently in the possession of “corrupt individuals and establishments.”
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It read, “This administration is today continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities, 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 appointment is effective right away, and you need to come into my office right away.
“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 detailed report on the amount of public wealth currently in the hands of corrupt individuals and establishments (whether private or public).
In order to complete this project, “you are to examine the CBN and connected organizations utilizing a team that is appropriately experienced, professional, and capable, and to collaborate with pertinent security and anti-corruption authorities.
“I will anticipate receiving a weekly update on the status of the project.
“Find attached, herewith, my directive suspending the Governor of the CBN from office effective June 2023.”
Recall that Godwin Emefiele, the governor of the CBN, who has been detained by the Department of State Service, DSS, was arraigned in court last week and given bail, but the secret police have not yet freed him.