Tinubu Appoints Special Investigator to Probe CBN Amid Emefiele Suspension

Ilesanmi AdekanbiJuly 30, 2023

1 minute read

President Bola Ahmed Tinubu has appointed a special investigator to probe the Central Bank of Nigeria (CBN) and key Government Business Entities (GBEs). The appointment comes amid the suspension of CBN Governor Godwin Emefiele, who is in the custody of the Department of State Services (DSS).

In a letter to Jim Osayande Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN), Tinubu said the appointment was in furtherance of the administration’s fight against corruption.

.According to a letter obtained by journalists on Sunday, President Tinubu named Jim Osayande Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN), as the Special Investigator of the CBN. Obazee is expected to report directly to the President’s office and provide weekly briefings on his findings.

The letter stated that Obazee’s mandate is to ensure the strengthening and probity of key GBEs, block leakages in CBN and related entities, and expose public wealth in the hands of corrupt individuals and establishments. Obazee is also required to work with relevant security and anti-corruption agencies to deliver on his assignment.

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

Emefiele has been in DSS detention since then, facing various allegations of fraud and mismanagement of public funds. He has denied any wrongdoing and challenged his suspension in court.

President Tinubu’s latest action is seen as part of his efforts to fulfill his campaign promise of fighting corruption and restoring accountability in governance. He has also vowed to recover all looted funds and prosecute those involved in corrupt practices.

The appointment of a special investigator is a significant development in the fight against corruption in Nigeria. It shows that the government is committed to holding those in power accountable.

The investigation is likely to be a high-profile one, and it will be interesting to see what findings Obazee comes up with. If the investigation is successful, it could have a major impact on the fight against corruption in Nigeria.