BREAKING: Tinubu orders probe of CBN under Emefiele, names investigator

President Bola Ahmed Tinubu on Sunday ordered the investigation of financial activities of the suspended Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele

The investigation, he said, is the continued fight against corruption in Nigeria.

He named the Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN), Jim Osayande Obazee, as a Special Investigator to probe activities of the Central Bank of Nigeria (CBN) and related entities.

Tinubu in a letter, asked Obazee to investigate CBN and key Government Business Entities (GBEs), and report directly to his office.
“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,” the letter read.

The president also sent a copy of his directive suspending Godwin Emefiele as Governor of the CBN on June 9, 2023.

Emefiele has been in the custody of the Department of State Services (DSS) since his suspension, and was arraigned in court last week at the Federal High Court, Ikoyi, but granted bail.

The Judge ordered that the embattled CBN governor be remanded in Prison custody, but the Department of Security Service insisted on continued detention of Emefiele in their facility, leading to a fisticuff between officials of the two agencies.