President Bola Tinubu has appointed special investigator to probe the Central Bank of Nigeria

In a letter dated July 28, 2023, the President of Nigeria made a significant move in the ongoing fight against corruption. He appointed Jim Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria, as the Special Investigator with immediate effect. The primary task assigned to Obazee is to conduct a thorough investigation into the Central Bank of Nigeria (CBN) and other key Government Business Entities (GBEs). Notably, the Special Investigator will report directly to the President's office, emphasizing the importance and seriousness of this assignment.

The President's letter referenced Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), which underscores the administration's commitment to combat corruption at all levels. The specific terms of Obazee's engagement as Special Investigator will be communicated to him in due course, but the initial requirements are to focus on enhancing the integrity and transparency of the identified Government Business Entities. The investigator is also expected to plug leakages within the CBN and related GBEs and provide a comprehensive report on the current state of public wealth and any involvement of corrupt individuals or establishments, whether in the private or public sector.

To carry out this critical investigation, Obazee will work alongside a competent and experienced team. Furthermore, collaboration with relevant security and anti-corruption agencies will be imperative to ensure the success of this endeavor. As a testament to the significance of the assignment, the President has requested regular weekly briefings on the progress being made, further highlighting the importance of this investigation in the nation's fight against corruption.

Moreover, the President took additional action by sharing a copy of his directive to suspend Godwin Emefiele as Governor of the CBN on June 9, 2023. This move indicates the seriousness with which the administration is addressing issues within the financial sector and its commitment to upholding transparency and accountability.

As Nigerians await the outcome of this investigation, the appointment of Jim Obazee as Special Investigator brings hope for a more transparent and accountable governance system. The nation anticipates that this proactive approach will pave the way for a stronger and more prosperous future, free from corruption and unethical practices.