Nigeria: Tinubu Appoints Obazee As Special Investigator of CBN and Related Entities

30 July 2023
This Day (Lagos)
By Deji Elumoye in Abuja

President Bola Tinubu has appointed the Chief Executive Officer of Financial Reporting Council of Nigeria, Mr Jim Osayande Obazee, as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities.

In a letter addressed to Obazee dated July 28, 2023 and personally signed by him, President Tinubu explained that the appointment of Obazee was in line with his administration's commitment to fight corruption and in accordance wth provisions of section 15 (5) of the 1999 constitution of the Federal Republic of Nigeria (as amended).

While assuring the appointee that the terms of his engagement, which is with immediate effect, will soon be made known to him, the president directed Obazee to report directly to him while probing the CBN and related entities using capable team while also blocking further leakages in the CBN and related Government Business Entities (GBEs).

The letter read: "In accordance with the fundamental objective set forth in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), this administration is, today, continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities. This appointment shall be with immediate effect and you are to report directly to my office.

"The full terms of your engagement as Special Investigator shall be communicated to you in due course but, require that you immediately take steps to ensure the strengthening and probity of key Government Business Entities (GBEs), further block leakages in CBN and related GBEs and provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments (whether private or public). You are to investigate the CBN and related entities using a suitably experienced, competent and capable team and work with relevant security and anti-corruption agencies to deliver on this assignment. I shall expect a weekly briefing on the progress being made.

"Find attached, herewith, my directive suspending the Governor of the CBN from office with effect from 9th June 2023."

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