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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.

Metro

Zambia Police denies suspending officers for failing to prevent Lungu’s public ‘tour’

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The Zambian Police has denied allegations that six of its officers were placed on suspension for refusing to block former President Edgar Lungu when he took a tour of Lusaka’s Central Business District.

Lungu had, on Thursday, caused a minor stir when he decided to take a walnut around the Lusaka’s Central Business District which turned into a rowdy scene as traders and residents cheered his name, while others whistled and motorists honked in solidarity as he strolled through the area.

Local media reports that despite the potential risks his presence could have generated, Lungu was warmly welcomed at Lusaka’s biggest trading marketplace, Soweto, as he waved at the traders, and motorist while assessing the cost of living and engaging with traders.

Lungu’s actions however, drew a cautious response from the Zambia Police, who have always warned against organising unlawful assemblies.

On Friday, there were various reports that the police had suspended six officers who failed to prevent the ex-President from embarking on the march due to its potential of causing a breach of public peace.

However, the police, in a statement, said the claims were baseless and misleading.

The statement issued bu Police Public Relations Officer, Rae Hamoonga, said contrary to the allegations, no police officer had been suspended on the said allegations.

“Our investigation has revealed that such an incident did not occur, and therefore, no disciplinary action has been taken against any officers in connection with this matter,” Hamoonga said.

The police spokesman urged the public and media outlets to verify information before disseminating it to avoid causing panic and confusion.

“Even the typo errors can show that the statement was done in a hurry by a person with ill motives with such mistakes as ‘commandi’ instead of Command,” he noted.

He further pointed out that Zambia Police Service had no Public Relations Officer with the name ‘Rea Hamoonga, which was quoted as the person who released the statement.

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U.S. applauds Nigeria’s monetary policies

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The United States government has commended Nigeria’s monetary policies under President Bola Tinubu which it says has fostered economic growth within the short period he has been in power.

U.S. Deputy Assistant Secretary, Bureau of African Affairs, State Department, Joy Basu, who made the assertion at a digital news conference with select Nigerian journalists, said the government’s policies were conducive for businesses to thrive, as well as strengthening and positioning the nation’s economy for overall growth.

Basu, stressed that the U.S. was committed to fostering its collaboration with Nigeria in order to “tackle myriad pressing issues and obstacles, which Nigeria, being Africa’s largest economy, was facing.”

The envoy said her country was working closely with the U.S. Treasury, Nigerian authorities and African central banks towards ensuring public and private sector economic restoration, stability and prosperity across Africa.

Basu stated that the U.S. was also working on curbing Africa’s security, infrastructure and energy challenges against the backdrop of the recently concluded 16th U.S.-Africa Business Summit in Dallas, Texas,

“We just came back from a meeting in Abuja, which was between the Secretaries of State and the United States is committed to being a good partner of prospect,” Basu said.

“We have made commitments to work on the security situation, infrastructure and energy, which is a common challenge not only in Nigeria but in some other countries in the continent.

“We have made concrete commitments to work on an enabling business environment in Nigeria and to make sure that American companies that are investing in Nigeria are having a transparent experience.

“We are working closely with our U.S. treasury, and with the central banks of African countries, particularly Nigeria and the World Bank, to restore the economy, help the people and ensure public and private companies to thrive,” she added.

Also speaking at the event, Reta Lewis, President, U.S. Export-Import Bank, highlighted U.S. efforts towards bolstering trade and investment across Africa, and emphasised the importance of transparency and accountability in fostering stronger U.S.-Africa partnerships.

“We are prepared to work with African countries and stakeholders from these MoUs to partner and foster competition.

“88.5% of the transactions that Exim does on a yearly basis is in small businesses.

“We feel small businesses are going to be part of the work we do, not only in the U.S. but in Africa,” Lewis said.

She also urged the participating journalists to always highlight the positive strides being made by U.S. to support businesses and bolster economic growth in Africa against the backdrop of the continent’s prevailing challenges.

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