The Nigerian government on Friday announced the conclusion of the investigation of the Central Bank of Nigeria (CBN) under former governor Godwin Emefiele.
Ajuri Ngelale, a spokesman to President Bola Tinubu, in a statement, said the Nigerian leader commended Jim Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), for his services as the Special Investigator of the CBN.
The presidential spokesman said the “investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.”
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He said the conclusion of the assignment was preceded by the submission of a final comprehensive report before the termination of the task on March 31, 2024.
The president’s spokesman did not disclose the details of the findings of the special investigator’s probe of the CBN.
Ngelale said Tinubu commended Obazee for the dedication and professionalism he exercised in handling the complexities of the critical national assignment.
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After sacking Emefiele in early June 2023, Tinubu directed Obazee to “take immediate steps to ensure the strengthening and integrity of crucial government business entities ( GBEs), further block leakages, in CBN, and related CBEs.
“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.”
Officials of the Department of State Services (DSS) arrested Emefiele in June after he was suspended by Tinubu.
Emefiele was arraigned on a two-count charge bordering on illegal possession of firearms at a Federal High Court in Lagos and was later granted bail in the sum of N20million
The two-count charge was later struck out while a fresh 20-count charge bordering on fraudulent procurement and conspiracy were brought against him.
He is being prosecuted for conferment of corrupt advantages, conspiracy, criminal breach of trust, forgery and obtaining by false pretence to the tune of $6.23 million.
In March 2024, an investigator at the Independent Corrupt Practices Commission (ICPC), Agboro Michael, told the court that Emefiele, awarded contracts to two obscure companies belonging to his wife and a CBN staff member.
While Mr Emefiele’s wife, Margaret, owns Architekon Nigeria Limited, the CBN staff member, who allegedly benefitted from the controversial contracts, Sa’adatu Yaro, owned the April1616 Investment Limited, according to the investigator.
The two companies – Architekon Nigeria Limited and April1616 Investment Limited – were awarded multiple contracts for the renovation of the CBN governor’s lodge in Lagos as well as the supply of power lines and vehicles for the bank.
