THE GUARDIAN
The former Central Bank governor, Godwin Emefiele, has been accused of operating 593 bank accounts in the United States, the United Kingdom, and China, where Nigerian funds were allegedly kept without authorization by the CBN’s Board and Investment Committee.
A report by a special investigator appointed by President Bola Tinubu, Jim Obazee, disclosed how billions of naira were allegedly stolen by Emefiele and other officials from the CBN’s accounts, including a “fraudulent cash withdrawal of $6.23 million” just before the 2023 elections.
“The former governor of CBN, Godwin Emefiele, invested Nigeria’s money without authorization in 593 foreign bank accounts in the United States, China and the United Kingdom while he was in charge,” the report said.
“All the accounts where the billions were lodged have all been traced by the investigator.”
Obazee claimed that his investigation in the United Kingdom led him to 543.4 million pounds kept by Emefiele in fixed deposit accounts, noting that Emefiele manipulated the Naira exchange rate and perpetrated fraud in the e-Naira project of the CBN.
The controversial redesign of the naira, according to Obazee’s report, “was neither recommended by the Board of the CBN nor approved by the then President, Muhammadu Buhari, in contravention of the provisions of Section 19 (1) of the CBN Act, 2007.”
He also noted that Emefiele did not consult with the management of the CBN nor seek any recommendation from the Board of the CBN as required by Section 19 of the CBN Act, 2007.
“It was a conspiracy against the Nigerian people and specifically the political class by the then CBN Governor (Mr Godwin Emefiele) and one of the erstwhile CBN Deputy Governor (Mr Folashodun Shonubi). The idea was that of Mr Shonubi (claiming interwoven challenges) and Mr Godwin Emefiele designed and approved the currency on October 19, 2022,” Obazee said.
“It was indeed meant to frustrate the political class and make their election agenda very difficult. It turned out to be a huge punishment to Nigerians and the Nigerian economy coincidentally.”
“It was a conspiracy against the Nigerian people and specifically the political class by the then CBN Governor (Mr Godwin Emefiele) and one of the erstwhile CBN Deputy Governor (Mr Folashodun Shonubi). The idea was that of Mr Shonubi (claiming interwoven challenges) and Mr Godwin Emefiele designed and approved the currency on October 19, 2022,” Obazee said.
“It was indeed meant to frustrate the political class and make their election agenda very difficult. It turned out to be a huge punishment to Nigerians and the Nigerian economy coincidentally.”
READ THE FULL STORY IN THE GUARDIAN
