President Bola Tinubu officially closed the investigation into the activities of the Central Bank of Nigeria (CBN), under the leadership of former Governor Emefiele.
According to Ngelale, the comprehensive report submitted by Mr. Obazee marked the conclusion of the assignment, and all operational aspects related to the investigation were officially wound up by March 31, 2024. Law enforcement and regulatory agencies are now engaged in follow-up actions based on the investigation’s outcomes.
President Tinubu’s appointment of Mr. Obazee in July aimed to probe into the operations of the apex bank during Emefiele’s tenure. The investigative findings have since led to legal actions against the former CBN governor.
The investigation’s report revealed various alleged infractions, including unauthorized offshore fund transfers, fraudulent cash withdrawals from the CBN vault, and financial improprieties involving the former governor and deputy governors. Significant fixed deposit holdings and currency manipulations were also brought to light.
The report underscored irregularities related to the Naira exchange rate, discrepancies in the e-Naira project, and unauthorized printing of new currency denominations. It further highlighted substantial expenditures on legal fees.
President Tinubu extended his appreciation to Mr. Obazee for his pivotal role in unveiling these issues, wishing him success in his future endeavors following the completion of this critical national assignment. CONTINUE FULL READING>>>>>
