Tinubu Hires Special Investigator to Probe CBN, Trace Stolen Funds

President Bola Tinubu has taken decisive action in the fight against corruption by appointing a Special Investigator to look into the activities of the Central Bank of Nigeria (CBN) and Related Entities. In a letter addressed to Jim Osayande Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN), Tinubu named him as the investigator with specific tasks.

The appointment requires the Special Investigator to conduct a thorough investigation into the CBN and key Government Business Entities (GBEs) while providing a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments, whether private or public. The President urged Obazee to commence his investigation immediately and to provide weekly progress reports to him directly.

The terms of the engagement will be communicated to the Special Investigator in due course, but Tinubu emphasized the need to strengthen and ensure the probity of key GBEs, block leakages in the CBN and related entities, and combat corruption effectively. He directed Obazee to work with experienced, competent, and capable teams, collaborating with relevant security and anti-corruption agencies to deliver on the assignment.

Meanwhile, in a separate development, Tinubu also sent Obazee a copy of his order suspending the CBN Governor, Godwin Emefiele, on June 9, 2023. The suspended CBN Governor had been arraigned at a Lagos High Court by the Department of State Services (DSS) on charges of illegal possession of firearms and ammunition. Following the suspension, Emefiele has been in the custody of the DSS and was re-arrested dramatically on the court premises shortly after being granted bail by the court. The appointment of the Special Investigator and Emefiele’s suspension signal the government’s unwavering commitment to combat corruption and maintain transparency in public institutions.