President Bola Tinubu has appointed Osayande Obaze, the former Chief Executive Officer of the Financial Reporting Council, as a Special Investigator to conduct a probe into the Central Bank of Nigeria (CBN). In a letter dated July 28, 2023, President Tinubu invoked section 15(5) of the Constitution of the Federal Republic of Nigeria 1999, as amended, as the basis for the investigation.
The President instructed the Special Investigator to focus on strengthening and ensuring the integrity of crucial government business entities (GBEs), and to address leakages in the CBN and related GBEs. The investigation also involves providing comprehensive reports on public wealth held by corrupt individuals and establishments, whether private or public.
Furthermore, the President directed the Special Investigator to work with a suitably experienced, competent, and capable team, collaborating with relevant security and anti-corruption agencies to accomplish the assignment. Weekly briefings on the progress are expected, and the letter also includes the suspension of Godwin Emefiele as Governor of the CBN on June 9, 2023.
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