By Ayo Yusuf
President Bola Tinubu has began a systematic probe of the nine year tenure of former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele who remains the longest serving head of the bank in the nation’s history.
Mr Emefiele who was appointed by former president Goodluck Ebele Jonathan was the governor of the Central Bank from 4 June 2014 to 9 June 2023 when he was suspended by President Bola Tinubu.
His administration witnessed a number of controversies including a run for the presidency of Nigeria while still governor, a dubious monetary policy that led to round tripping in the forex market and a failed Naira redesign policy that caused untold hardships.
President Tinubu who has gradually been overturning these policies have appointed the Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN), Jim Osayande Obazee, as a Special Investigator to probe the Central Bank of Nigeria, CBN, and Related Entities.
President Tinubu in a letter dated 28th July, 2023 said the appointment was in continuation of his fight against corruption.
The letter personally signed by the President noted that the full terms of Obazee’s engagement would be provided later and that he would be required to take immediate steps to block further leakages from the CBN, ensure probity and strengthen key government business entities.
According to the letter, the special investigator is to report directly to the president and he is required to provide a comprehensive report on public wealth currently in the hands of “corrupt individuals and establishments.”
The letter states that, “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.
Find attached, herewith, my directive suspending the Governor of the CBN from office with effect from June 2023.”
Recall that the Governor of the CBN, Godwin Emefiele, who has been in the custody of the Department of State Service, DSS, was arraigned in court and granted bail last week but is yet to be released by the secret police.
