Tinubu initiates investigation into CBN, related entities
President Bola Tinubu’s administration has taken a decisive stance against corruption, appointing a Special Investigator to lead an extensive probe into the Central Bank of Nigeria (CBN) and its Related Entities.
In a letter sighted by Daily Trust, the President named Jim Osayande Obazee, Chief Executive Officer (CEO) of the Financial Reporting Council of Nigeria (FRCN), to spearhead the investigation.
This move showcases the administration’s commitment to combating corruption and ensuring transparency in the financial sector.
The appointment of a Special Investigator to probe the CBN and its Related Entities aligns with the fundamental objectives set forth in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended). It marks a significant step in the administration’s efforts to intensify the fight against corruption.
In a letter addressed to Jim Osayande Obazee, President Tinubu expressed the gravity of the task ahead, stating, “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.”
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The President emphasized the urgency of the investigation, directing Obazee to ensure the strengthening and probity of key Government Business Entities (GBEs).
Additionally, he charged the Special Investigator with blocking leakages in the CBN and related GBEs while providing a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments, whether private or public.
“I shall expect a weekly briefing on the progress being made,” President Tinubu asserted in the letter.
Obazee’s appointment comes as a critical move to maintain transparency and integrity within Nigeria’s financial institutions.
The Special Investigator will work with a suitably experienced, competent, and capable team and collaborate closely with relevant security and anti-corruption agencies to deliver on this important assignment.
In a related development, President Tinubu shared a copy of his directive, issued on June 9, 2023, suspending Godwin Emefiele from his position as the Governor of the Central Bank of Nigeria.
Emefiele has been in the custody of the Department of State Services (DSS) since then. Although he was arraigned in court last week and granted bail, the secret police rearrested him.
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