CBN Investigator indicts Emefiele of embezzlement, gross financial offences

The Special Investigator appointed by President Bola Tinubu to conduct inquiry into the Central Bank of Nigeria (CBN), Jim Obazee, in his report after four months of investigation, indicted the former the Governor of the Central Bank, Godwin Emefiele, including others of embezzling billions of naira as well as committing gross financial offences.

It was gathered from a media report by Premium Times, that the findings and recommendations of the Investigator were compiled in a report submitted to President Tinubu on December 9, 2023.

According to the report, Emefiele, CBN Governor from June 2014 to June 2023, indulged “in fraudulent cash withdrawal of $6.23 million”, and perpetrated fraud in the redesign of the naira, adding that Emefiele deposited 543.4 million pounds in the United Kingdom.

According to Premium Times, the Obazee’s report indicated that Emefiele manipulated the exchange rate, fraudulently used the Ways and Means to the tune of N26.6 trillion, launched fraudulent intervention programmes, made fraudulent expenditures on COVID-19, and manipulated presidential approval, among other things.

The Obazee report, therefore, recommended that Emefiele and others, including the CBN deputy governors, be prosecuted for financial offences.