Nigerian President Bola Tinubu ordered a special investigator probe the central bank’s operations as part of the government’s fight against corruption, according to a letter seen by Bloomberg News.
(Bloomberg) — Nigerian President Bola Tinubu ordered a special investigator probe the central bank’s operations as part of the government’s fight against corruption, according to a letter seen by Bloomberg News.
Tinubu reappointed Jim Obazee as chief executive officer of the Financial Reporting Council of Nigeria and made him the special investigator, according to the letter, which didn’t disclose specific allegations of corruption against the central bank. The letter, signed by Tinubu and dated July 28, ordered Obazee to assemble a team to carry out the task and work with relevant security and anti-corruption agencies. The document was confirmed by senior government officials.
“The terms of the engagement as a special investigator shall be communicated to you in due course,” according to the letter. Still, Obazee was ordered to immediately take steps to ensure the strengthening of key government business entities and find out the amount of wealth siphoned by “corrupt individuals and establishments.”
Tinubu on July 9 suspended former central bank Governor Godwin Emefiele, citing an ongoing investigation of his office and planned reforms in the financial sector of the economy. Emefiele was later arrested by the State Security Service — which is similar to the US Federal Bureau of Investigation — and subsequently charged with possessing a single-barreled shotgun and 123 rounds of live ammunition without a license.
A central bank spokesman didn’t respond to a request for comment about the investigation.
Obazee will report directly to the president’s office and has been asked to give a weekly progress report to Tinubu.
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