By Olusegun Olanrewaju
The special investigator appointed by President Bola Tinubu to investigate the activities of the Central Bank of Nigeria (CBN), Jim Obazee, has submitted the interim report.
The president had on July 28, 2023, appointed Obazee, a former Chief Executive Officer (CEO) of the Financial Reporting Council of Nigeria (FRCN), as the Special Investigator to probe the activities of the CBN under its suspended governor, Godwin Emefiele.
In the letter personally signed by him, Tinubu said the move was in continuation of the government’s anti-corruption fight and urged Obazee to work with relevant security and anti-corruption agencies to deliver the assignment.
Aside from the CBN, Obazee is also probing the Nigerian National Petroleum Corporation Limited (NNPCL) and other Government Business Entities using a suitably experienced, competent, and capable team.
However, sources in the presidency told a national daily under anonymity that the preliminary report was submitted for necessary action by the President.
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The source said the interim report led to the change of leadership at the apex bank in the country and would enable the president to make some key decisions that would help the country move forward.
The official added that the president and his team are currently reviewing the report to take an appropriate decision on it soon.
Earlier before the submission, the Secretary to the Government of the Federation (SGF), George Akume, had revealed that the Federal Government was poised to unveil the audit report stemming from the comprehensive investigation into the CBN.
In his role, Obazee was tasked with probing the CBN as well as key government business entities, reporting directly to the president’s office.
The SGF disclosed this development while addressing questions at a press conference held in Abuja on the occasion of Nigeria’s 63rd Independence anniversary.
According to him, when made public, the CBN’s audit report will provide critical insights into the governance issues that have contributed to the country’s present challenges.
Stressing the importance of the report, Akume was quoted as saying, “Most of these problems confronting us are due to bad governance. The present government has confronted and is confronting these challenges.
“When President Bola Tinubu came on board, he made a very sound decision at the CBN. That singular act led to a massive improvement in the capital market; as experts have told us, it is something that has never happened in the past 15 years.”
The SGF added that substantial changes had taken place at the apex bank, with a new team in place and the special investigator diligently working on the investigation.
Akume assured that the investigation’s findings would soon be made available to Nigerians, providing a clear understanding of what went wrong and how the nation arrived at its current situation.
According to further reports, some recent findings indicate that Obazee submitted the interim report to the president’s office over a week ago, “marking a significant milestone in the ongoing investigation.
“While the investigation continues, the preliminary report is intended to provide the president with insights into the progress made thus far.
Sources said the interim report has already influenced changes in leadership within the CBN, “although this information has yet to be independently verified”.
