From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has lauded the efforts of Jim Obazee, the special investigator, as he wraps up his extensive investigation into the operations of the Central Bank of Nigeria (CBN) and its affiliated entities.
In a statement released on Friday by Special Adviser on Media and Publicity, Ajuri Ngelale, he confirmed the submission of the panel’s report and announced the formal closure of the investigation following the completion of its mandate on March 31, 2024.
Tinubu praised Obazee for his professionalism in navigating the complexities of the investigation.
The President expressed gratitude to Obazee for his dedication to duty and extended best wishes for his future endeavors as the investigation concludes, with law enforcement and regulatory agencies already pursuing necessary follow-up actions.
Tinubu had in July 2023, Obazee, the former CEO of the Financial Reporting Council of Nigeria (FRCN), and tasked with delving into the activities of the CBN and shedding light on public wealth held by corrupt individuals and organizations.
On December 22, 2023, Obazee’s team presented a detailed report titled ‘Report of the Special Investigation on CBN and Related Entities (Chargeable Offences)’ to President Tinubu, exposing instances of fraudulent practices and misconduct within Nigeria’s apex bank.
The report implicated Godwin Emefiele, the former CBN governor, in authorizing the “unlawful removal” of $6.23 million from the CBN’s Abuja office vault during his tenure. It also highlighted fraudulent utilization of ways and means advances by the CBN under Emefiele’s leadership. Furthermore, Emefiele was accused of orchestrating the establishment of Titan Trust Bank (TTB) through proxies to acquire Union Bank of Nigeria (UBN).
Emefiele currently faces a 20-count criminal charge filed against him by the Economic and Financial Crimes Commission (EFCC) in connection with these findings.