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Nigeria: Disgraced ex-central bank boss fights back, dismisses investigator’s report

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Disgraced former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has denied a report put together by a Special Investigator, Jim Obazee, who was appointed by President Bola Tinubu to to investigate allegations of fraud and misappropriation of funds at the apex bank.

Obazee’s report, which was leaked last week, revealed shocking instances of fraud purportedly perpetrated by Emefiele while he was the governor of the bank.

Part of the report revealed that Emefiele operated 593 bank accounts in the USA, the UK and China, and also illegally deposited £543, 482, 213 in fixed deposits in UK banks without the approval of the apex bank’s Board of Directors and Investment Committee.

But in a statement on Sunday debunking the report,  Emefiele said it was not only fabricated but “misleading and a calculated attempt to disparage his person, injure his character and serve the selfish interest of the private investigator.”

The statement entitled, “Re: Emefiele, others stole billions, illegally kept Nigeria’s funds in foreign banks,” the former CBN Governor described the report as “barefaced lies told by the investigator in order to achieve his satanic agenda.”

“I have gone through the publications, and I say boldly that the contents of the said publications are false, misleading and calculated to disparage my person, injure my character and serve the selfish interest of the private investigator,” the statement reads.

“Because of my present situation, I have been advised by my lawyers not to say anything in respect of the matters which have been submitted to the court for adjudication.

“However, I need to address some of the issues raised in the publication which are barefaced lies told by the investigator in order to achieve his satanic agenda.

“First, it was reported that contrary to the provision of the CBN Act 2007, there was no presidential approval for the Naira redesign.

“I wish to state unequivocally that there was indeed a presidential approval, and the said approval was handed over to the same Jim Obazee during the process of his investigation in the presence of senior CBN officials and his own investigative team.

“Moreover, the former President Muhammadu Buhari GCFR has stated on a number of occasions that he authorised and approved the Naira redesign.

“I am therefore at a loss as to why Mr. Jim Obazee will mislead Nigerians that there was no presidential approval.

“The report also claimed that the sum of 6.23 million dollars was withdrawn from the CBN vault based on a false presidential directive bearing the signature of the former President Muhammadu Buhari GCFR and that of the former Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha.

“About two weeks ago, Jim Obazee in the company of a certain Deputy Commissioner of Police from Force CID, came to Kuje to ask me questions in respect of the said document in the presence of my lawyers.

“I stated verbally and in writing that I have no knowledge of such a directive from the former president and the former SGF.

“In fact, I told them that that was the first time I would be seeing the documents.

“On this, I challenge Jim Obazee to publish the said documents and also the statements that I made to them.

“The final issue that I would like to respond to is the issue of the 593 accounts which were purportedly opened in different parts of the world.

“I state categorically that I am not involved in the opening of these accounts and I do not have knowledge of their openings. The fixed deposits in those foreign accounts are definitely outside my knowledge.

“However, let me state clearly, that the relevant departments of the CBN have the authority to carry out such activities in line with their lawful mandate within the CBN.

“I, therefore, join well-meaning Nigerians who have spoken on this matter and have demanded a thorough and transparent investigation of all these alleged frauds.

“Meanwhile, I have instructed my lawyers to immediately commence the legal process to clear my name from the defamatory statements contained in the report and by extension the publications”, Emefiele said.

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Mapanza traditional council shares positive outlook on media rights, freedom of expression

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Jonathan Muchindu, a representative of the Traditional Council of Mapanza Chiefdom in Choma District, Southern Province, Zambia, asserts that the media in Zambia currently enjoys “total” freedom of expression.

Muchindu attributed this position to the advancement of civilization, which he identified as a significant factor in ensuring media freedom.

He emphasized the role of the media in providing citizens with the necessary information to make informed decisions.

In an exclusive interview with Zambia Monitor in Choma, Muchindu, who also serves as the Director of the Zambia Corruption Prevention Watchdog, described the media and its content as essential elements akin to “food on the table.”

“We are truly privileged to witness the advancements in civilization. Previously, the media was confined to the hands of a few individuals, and its reach was limited.

“However, with the advent of technology, accessing news through various platforms such as radio and television has become commonplace.

“The media has evolved into an indispensable source of information, and its participation is now integral to our daily lives,” he remarked.

When questioned about the operational landscape of the media, Muchindu expressed confidence that no media entity currently faces undue interference or censorship.

“From our perspective, both in rural villages and urban centers, we have not encountered instances where journalists or media outlets have been subjected to harassment or undue influence.

“This collaborative effort had ushered in a sense of enlightenment among the populace, allowing for open discourse on governance matters, particularly in the realm of politics.

“The media enjoyed the same freedoms as ordinary citizens, and there is unequivocal liberty in its expression,” Muchindu concluded.

The declaration by the Traditional Council of Mapanza Chiefdom underscored a positive outlook on media freedom in Zambia and reaffirmed the critical role of the media in fostering informed public discourse.

This story is sponsored content from Zambia Monitor’s Project Aliyense.

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Nigeria loses N1.29trn annually to crude oil theft, vandalism— Reps Speaker

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Speaker of Nigeria’s House of Representatives, Hon. Abbas Tajudeen, has revealed that the country loses a whopping sum of N1.29 trillion to crude oil theft, pipeline vandalism and other forms of criminality in the oil sector.

Tajudeen, who spoke at the commissioning of the Nigerian Navy Training Command at Eleme, Rivers State in South-South Nigeria on Friday, said about 300,000 barrels of crude oil were also lost per day to oil theft by bunkerers.

Tajudeen who was represented at the event by the Chairman, House of Representatives Committee on Defence, Hon. Babajimi Benson, stated that the crude oil theft and pipeline vandalization has continued to pose a challenge to the Nigerian Navy which has hindered the service from rising up to its mandate of contributing to the survival of the national economy.

“Unfortunately, it is estimated that Nigeria loses over 300,000 barrels of crude oil daily to oil theft, pipeline vandalism and other forms of criminality. This has led to revenue losses estimated at N1.29 trillion annually,” the Lower Chamber Speaker said.

Speaking further on steps taken to curb the menace, Abbas said:

“Concerned about the adverse effects of oil theft in Nigeria, I inaugurated a special committee on Crude Oil Theft Loses on November 22, 2023, to determine decisive remedial actions to be taken.

“I commend the Nigerian Navy on the steps taken so far, and I urge the Navy to sustain the momentum.”

Also speaking, Nigeria’s Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, thanked the Rivers State Government for the donation of the entire complex to demonstrate the existing cordial relationship between the Nigerian Navy and Rivers State.

Ogalla said the relocation of the Headquarters Naval Training Command from Lagos to Ebubu-Eleme in Rivers State would bolster human capacity development of personnel of the Nigerian Navy.

“It will also assist in providing the enabling environment for learning and enable us to carry out the statutory manning of the entire state, and national security of our country.

“This is in line with Mr President’s mandate given to us to provide the enabling environment for the harnessing of the enormous economic potential inherent in our blue economy for the overall good, national prosperity and development.”

The Naval chief assured that the Nigerian Navy would continue to carry out operations to ensure security of the nation’s maritime domain as well as secure Rivers State and the entire Niger Delta region.

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