President Bola Tinubu has made a significant move in his administration’s anti-corruption efforts by appointing Jim Obazee as a Special Investigator. In a letter dated 28 July, Tinubu cited Section 15(5) of the Constitution of the Federal Republic of Nigeria (as amended) as the basis for the appointment. Mr. Obazee is entrusted with the task of probing the activities of the Central Bank of Nigeria (CBN) and other related entities.
The appointment comes into effect immediately, and Mr. Obazee is expected to report directly to the President. His primary mandate is to ensure transparency and probity in key Government Business Entities (GBEs) while blocking any leakages in the CBN and related entities.
One of the key aspects of his assignment is to compile a comprehensive report on public wealth that may currently be in the hands of corrupt individuals or establishments, whether private or public.
To carry out the investigation effectively, President Tinubu has directed Mr. Obazee to work with a competent and capable team and collaborate with relevant security and anti-corruption agencies.
Jim Obazee, a former CEO of the Financial Reporting Council of Nigeria (FRCN), is expected to provide weekly briefings to President Tinubu on the progress of the investigation.
The President’s letter also draws Mr. Obazee’s attention to his earlier directive to suspend the CBN governor, Godwin Emefiele, on 9 June. Following his suspension, Mr. Emefiele was arrested at his Lagos home by operatives of the State Security Service (SSS) and flown to Abuja. The SSS has accused him of possessing an unregistered firearm. Although the Federal High Court in Abuja granted him bail, the SSS re-arrested him on the court premises. The reasons for his continued detention are yet to be publicly disclosed.
As President Tinubu intensifies efforts in his administration’s fight against corruption, the appointment of Jim Obazee as Special Investigator signifies a significant step towards promoting transparency and accountability in key financial institutions.
