Inside Nigeria
Tinubu Appoints Special Investigator to Probe CBN
...Appointment takes immediate effect
President Bola Tinubu has appointed Jim Obazee as a Special Investigator to probe the activities of the Central Bank of Nigeria (CBN) and other related Government Business Entities (GBEs).
The appointment, based on the constitutional mandate outlined in Section 15(5) of the Constitution of the Federal Republic of Nigeria (as amended), comes as part of President Tinubu’s commitment to ensuring probity and transparency in the nation’s financial institutions.
The appointment, detailed in a letter dated 28th July, 2023, empowers Obazee to lead the investigation and report directly to the President, with the full terms of his engagement as a special investigator to be conveyed to him in due course.
Obazee, a former chief executive officer of the Financial Reporting Council of Nigeria (FRCN), is tasked with taking swift action to fortify the integrity of key GBEs and to seal leakages within the CBN and its related counterparts.
A comprehensive report on the present state of public wealth in the hands of corrupt individuals and establishments, whether public or private, is also mandated to be delivered by the special investigator.
Additionally, the president has directed Obazee to conduct a thorough investigation into public wealth currently in the possession of corrupt individuals and establishments, whether in the private or public sector.
To execute this mandate effectively, President Tinubu has instructed the Obazee to assemble a suitably experienced, competent, and capable team and to collaborate with relevant security and anti-corruption agencies to deliver on the assignment.
The suspended CBN boss, Godwin Emefiele was removed fro office on June 9, 2023, and subsequently arrested at his Lagos residence by operatives of the Department of State Services (DSS).
The DSS has said it is prosecuting Emefiele for possession of an unregistered firearm and about 123 rounds of ammunition, and despite being granted bail by the Federal High Court in Abuja, he remains in detention.
