Nigeria: Tinubu appoints special investigator to probe Central Bank

Nigeria's President Bola Tinubu has appointed a Special Investigator to probe the activities of the country's apex bank the Central Bank of Nigeria (CBN) and other related entities.

In a letter dated 28 July and signed by the president, Jim Obazee’s appointment was stated with immediate effect and described as in furtherance of President Tinubu’s administration’s anti-corruption fight. The special investigator Jim Obazee is to report directly to the president.

It comes amid the investigation and probe of former CBN governor Godwin Emefiele who was suspended by President Tinubu in June. Last week the former CBN chief was arraigned in court and pleaded “not guilty” to the two counts of illegal possession of firearm and ammunition filed against him by the Federal Government. He was granted bail and subsequently remanded at a correctional centre. 

Many analysts believe Emefiele’s ordeal is related to actions taken by the apex bank under his watch in the weeks leading to elections in February where a shortage of cash led to chaos from the CBN policy to replace the naira currency in circulation with new notes.