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Nigeria: President Tinubu Initiates Special Investigation into CBN

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President Bola Tinubu has taken a significant step in the fight against corruption by appointing Jim Obazee, Chief Executive Officer of the Financial Reporting Council of Nigeria, as a special investigator to probe the Central Bank of Nigeria (CBN) and related entities.

In a letter signed by President Tinubu, he emphasized that the investigation is an essential part of the administration’s commitment to combat corruption effectively. The appointment of the special investigator, Jim Obazee, is effective immediately, and he will directly report to the President’s office.

President Tinubu stated in the letter, “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.”

The President has outlined specific objectives for the investigation, which include strengthening and ensuring probity in key Government Business Entities (GBEs), addressing leakages in the CBN and related GBEs, and providing a comprehensive report on public wealth currently under the control of corrupt individuals and establishments, whether in the private or public sector.

While the full terms of the engagement as Special Investigator will be communicated to Jim Obazee in due course, President Tinubu has stressed the urgency of the investigation. Jim Obazee is tasked with leading a capable and competent team to thoroughly examine the CBN and related entities. He will also collaborate with relevant security and anti-corruption agencies to deliver on this crucial assignment.

To keep track of the progress being made, the President has requested weekly briefings from the special investigator.

With this appointment, President Tinubu aims to ensure accountability, transparency, and the elimination of corrupt practices within the CBN and its related entities, as part of his administration’s commitment to rooting out corruption in Nigeria.

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