A report by the special investigation panel on the Central Bank of Nigeria (CBN) and related entities, says Godwin Emefiele, the regulator’s ex-governor, illegally kept billions of naira in 593 bank accounts in the United States, United Kingdom, and China.
The panel, led by Jim Obazee, the special investigator, also said the Emefiele lodged £543, 482,213 in fixed deposits in UK banks alone without the approval of the apex bank’s board of directors and the investment committee.
Submitted to President Bola Tinubu on Wednesday, the panel, in the report, tagged, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable Offences), said all the accounts have been traced.
“The former governor of CBN, Godwin Emefiele invested Nigeria’s money without authorization in 593 foreign bank accounts in United States, China and United Kingdom, while he was in charge,” document reads.
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“All the accounts where the billions were lodged have all been traced by the investigator.”
According to the report, billions of naira were allegedly stolen by Emefiele and other officials from the CBN’s accounts including a “fraudulent cash withdrawal of $6.23 million” — about N2.9 billion at the then official exchange rate of N461 to a dollar.
The panel also accused Emefiele of manipulating the exchange rate and perpetrateing fraud in the e-Naira project of the CBN.
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Emefiele, who is currently in the Kuje correctional facility Centre, was arraigned on a six-count charge bordering on procurement fraud valued at N1.2 billion.
He has not been able to meet the N300 million bail granted him by a high court of the federal capital territory on November 22.
Tinubu, had on July 30, 2023, appointed Obazee, as a special investigator to probe the activities of the CBN and other related entities.
In a letter seen by TheCable, dated July 28, 2023, the president had asked Obazee to commence work immediately and report directly to his office.
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