The Federal Government has appointed a Special Investigator to probe the Central Bank of Nigeria (CBN) and affiliated government department and agencies during the tenure of the embattled apex bank governor, Godwin Emefiele.
Presidency sources said on Sunday the appointment of the special investigator was contained in a letter dated July 28, 2023 signed President Bola Tinubu and addressed to the Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN), Jim Osayande Obazee, was said to be in furtherance of the government’s commitment to the fight against corruption in the country.
Although the full details of the terms and conditions of the mandate were to be spelt in the letter, Tinubu said the appointment takes immediate effect, to allow the Council take steps to block further leakages from the CBN, ensure probity and strengthen key government business entities.
The Council is an agency of the government established by the Financial Reporting Council of Nigeria Act, No. 6, 2011 under the supervision of the Federal Ministry of Industry, Trade and Investment to develop and publish accounting and financial reporting standards to be observed in the preparation of financial statements by public entities in the country and for related matters to protect investors’ interest and ensure issues relating to financial reporting and corporate governance.
The Council is also mandated to promote the highest standards among auditors and other professionals engaged in the financial reporting process. As well as improve the quality of accountancy and audit services, valuation and corporate governance standards.
The letter of appointment also stated that the investigator, who would report directly to the President, would be required to provide a comprehensive report on public wealth currently in the hands of “corrupt individuals and establishments.”
The letter read: “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.
The Governor of the CBN, Godwin Emefiele, who has been in the custody of the Department of State Service (DSS) was arraigned in court last week before being granted bail only to be rearrested.
Emefiele has been in DSS detention since June, and 2023 since he was removed from office.
The DSS accused the former CBN of being in possession of one barrel shotgun without ammunition Licenses.
