Breaking: Tinubu dissolves panel investigating Emefiele

Mr. Jim Obazee, Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, declared to investigate the activities of the former CBN governor, Godwin Emefiele, has officially been dissolved.

Ajuri Ngelale, Presidential spokesman, in a statement revealed that the President Bola Tinubu revealed on Friday.

The statement commended Obazee for the dedication and professionalism he exercised in handling the “complexities of this critical national assignment.”

Ngelale said, “Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.

“The President thanks Mr. Obazee for answering the call of duty while wishing him success in his future endeavours.”

Remember that Obazee, the former CEO of the Financial Reporting Council of Nigeria (FRC), was sent by President Tinubu in July to look into the operations of the apex bank under Emefiele.

The former CBN Governor is already facing charges in court, following the findings of Obazee and his team.

The report against the former CBN Boss that was given to the President included, among other things, the following: substantial fixed deposit holdings totaling £543.4 million; gross financial misconduct involving the former governor and his Deputy Governors; unauthorised funding of offshore bank accounts; and fraudulent cash withdrawals from the CBN vault.

The investigation also brought to light the e-Naira project’s anomalies, the Naira exchange rate manipulations, the unlawful printing of additional currency denominations, and the significant legal fees incurred.