A special investigative committee set up by President Bola Tinubu has unearthed financial mismanagement totaling N3 trillion by former Central Bank Governor, Godwin Emefiele. The massive sum was reportedly misappropriated from COVID loans and the Anchor Borrowers’ Programme Fund.
President Tinubu appointed Jim Obazee, CEO of the Financial Reporting Council of Nigeria, to lead the investigative committee in July. The committee, reporting solely to the President, was tasked with probing the Central Bank of Nigeria (CBN) and key Government Business Entities.
Insiders revealed that Emefiele, who was suspended in June and subsequently arrested by the Department of State Services (DSS), allegedly pilfered N3 trillion from the mentioned projects among other financial irregularities during his tenure at the apex bank.
The committee, spearheaded by Obazee, is pressing to submit an interim report to President Tinubu promptly. This move aims to highlight the gravity of Emefiele’s financial crimes and discourage any attempt to settle the case through a N50 billion refund plea bargain, as exposed earlier by SaharaReporters.
President Tinubu, in his recent nationwide broadcast on Nigeria’s 63rd Independence anniversary, confirmed that the findings on past lapses in the CBN would be disclosed soon. He assured a thorough cleansing of the malfeasance within the apex bank.
Contrary to reports of a plea bargain, the AGF and Minister of Justice, Lateef Fagbemi, denied any non-prosecution agreement with Emefiele. The former CBN governor and associates were expected to face charges of N6.9 billion procurement fraud, with allegations of economic crimes linked to terrorism financing.
Emefiele’s purported involvement in financing terrorism extends to connections with controversial cleric Sheikh Ahmad Gumi. The investigation reportedly revealed financial transactions between Emefiele and a known terror financier, raising concerns about economic crimes with national security implications.
As the committee intensifies its efforts, the public awaits further revelations regarding the alleged financial mismanagement and corruption that occurred during Emefiele’s leadership at the CBN.
