Since the suspension of the previous CBN Governor, Godwin Emefiele, he has been probed over some illegalities concerning money laundering. Still, the recent investigation report shows that Emefiele has illegally lodged billions of naira in 593 foreign bank accounts as of this report.
The bank account can be found in the United States, United Kingdom, and China. It is said that these accounts operate without the authorization of the apex bank's board of directors and the CBN Investment Committee.
Jim Obaze, the Special Investigator on the CBN and Related Entities, conducted the investigation. He revealed that without authorization, the former CBN governor lodged £543,482,213 in fixed deposits in UK banks alone.
However, on Wednesday, Obaze submitted the final report titled ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offenses)’ to President Bola Tinubu.
The report partly read,
- The former governor of CBN, Godwin Emefiele, invested Nigeria’s money without authorization in 593 foreign bank accounts in the United States, China, and the United Kingdom while he was in charge.
- All the accounts where the billions were lodged have all been traced by the investigator.
After Emefiele's suspension as CBN Governor, he was placed on trial at the Custodial Centre for N1.2 billion in procurement fraud in June. He was granted bail for N300 million by the High Court of the Federal Capital Territory on November 22, which he still needs to fulfill.
The documents obtained by the PUNCH show that the former CBN governor might still face fresh criminal charges over his management of the CBN naira redesign policy.
Read more: https://www.investingport.com/inves...d-operates-593-illegal-foreign-bank-accounts/