Tinubu Orders Probe Of CBN, Names Special Investigator

President Bola Ahmed Tinubu has appointed a Special Investigator to probe the Central Bank of Nigeria (CBN) and key Government Business Entities (GBEs).

The President in a letter dated 28th July, 2023 addressed to Jim Osayande Obazee, the Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN), said he was appointing as the special investigator in continuation of the fight against corruption.

The letter personally signed by the President, noted that the full terms of Obazee’s engagement would be provided later and that he would be required to take immediate steps to block further leakages from the CBN, ensure probity and strengthen key government business entities.

According to the letter, the special investigator is to report directly to the president while he is required to provide a comprehensive report on public wealth currently in the hands of “corrupt individuals and establishments.”

The letter reads:
“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 president also sent a copy of his directive suspending Godwin Emefiele as Governor of the CBN on June 9, 2023.