Emerging facts have begun to unfold in the ongoing probe into the alleged fraudulent activities that transpired during the nine-year stint of Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) under the administration of ex-President Muhammadu Buhari.
According to a report by The Guardian, special investigations are ongoing, led by the former Chief Executive of the Financial Reporting Council of Nigeria (FRC) and forensic auditor Jim Obazee.
Obazee and his team of investigators were appointed by President Bola Ahmed Tinubu in July in line with his promise at his inauguration that there would be a major cleanup in the financial institutions.
It is believed that the illegal financial atrocities and fraud committed in the CBN range to about N7 trillion.
As part of the investigation, it has been reported that two deputy governors of the CBN –Kingsley Obiora and Aisha Ahmad, had been invited for interrogation by the Department of State Security (DSS).
The duo were reported to have been called upon for investigation due to their alleged involvement in the fraud perpetrated under the watch and supervision of Emefiele as CBN boss.
Alleged N7trn fraud: Who are those connected?
Similarly, it is believed that some documents are also under scrutiny and checks, which has revealed that some of Nigeria’s foreign missions in the Gulf region were involved in some of the “criminal transactions” in desperate efforts to legitimise the financial crimes.
This development has further heightened tension that there might be some arrests of persons connected to this financial fraud.
A source confirmed that a report on the probe would be submitted in due course and would contain:
“How the financial system was mismanaged and the regulations compromised to enable the President to decide on what to do to clean up the system”.
Meanwhile, it was also gathered that top bank executives are also in on the fraud, which could be exposed in the report yet to be submitted to President Tinubu by Obazee and his team of auditors and investigators.
Obazee’s team, under pressure from forces in the corridors of power
Contrastingly, Obazee and his team will have to deal with the pressure from some titans in the corridors of power who wouldn’t want his report to see the light of day.
A source revealed that:
“They suddenly realised that it goes beyond politics and that the team wants to do the right thing in the interest of the public.
“So, they want to influence or limit the investigations. But that is a difficult thing to do; the assignment has started, and everybody knows about it.”
To further pour the icing on the cake, another source revealed that some of the political and business associates linked to the fraud perpetrated in the CBN are in a panic mode due to the intensity of the investigation.
The source said these individuals are “ready to buy anybody” to close the investigation and erase their records from the facts gathered.
It was also gathered that the investigation has slowed down due to the destruction of evidence within the CBN.