CBN Special Investigator, Obazee Submits Interim Report to Tinubu

The Special Investigator appointed to probe the activities of the Central Bank of Nigeria, CBN, Jim Obazee, has reportedly submitted an interim report to President Bola Tinubu.

You will recall that President Tinubu had on July 28, 2023, appointed Obazee, a former Chief Executive Officer of the Financial Reporting Council of Nigeria, as the Special Investigator to probe the activities of the apex bank under its suspended governor, Godwin Emefiele.

In the letter, which he personally signed, the President said the move was in continuation of the government’s anti-corruption fight and urged Obazee to work with relevant security and anti-corruption agencies to deliver the assignment.

Aside from the CBN, Obazee is also investigating the Nigerian National Petroleum Corporation Limited, NNPCL and other Government Business Entities using a suitably experienced, competent and capable team.

However, sources in the presidency told The Punch on the condition of anonymity that the preliminary report was submitted for necessary action by the President.

The source said the interim report led to the change of leadership at the CBN and would enable the president to make some key decisions that would help the country move forward.

The official added that the president and his team are currently reviewing the report with a view to taking an appropriate decision on it soon.

The Chief Executive Officers and top management staff of banks may also be probed during the ongoing investigation of the activities of the Central Bank of Nigeria.

Punch Newspaper reports some bank CEOs would be invited in an effort to ascertain any discrepancies around the management of intervention funds by deposit money banks.

The PUNCH had earlier reported that the Central Bank of Nigeria may be asked to withdraw its audited annual financial reports, which were recently released.

This came after a team investigating the apex bank discovered discrepancies and irregularities in the financial accounts.

Aside from the CBN, the special investigator is also investigating the NNPCL, FRC, and other Government Business Entities.