JUST IN: Emefiele Reportedly Refund N4Trillion To FG

Save Our Nation SON

January 24, 2024

The former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has reportedly refunded a whopping N4 trillion to the coffers of the Federal Government stolen while he was the at the helm of affairs of the apex bank.

According to a very reliable source close to the investigators, besides reportedly returning N4 trillion, Emefiele also allegedly gave up ownership of six banks linked to him.

In a related development, the source revealed that a former CBN Deputy Governor, Tunde Lemo, also reportedly refunded $500 million embezzled taxpayers’ money.

The most shocking of all, however, was the discovery of $275 million in the bank account of a six year old son of Sabiu Yusuf, a.k.a Tunde, a Personal Assistant to former President Muhammadu Buhari.

Also discovered was another N1.5 trillion in the personal account of the former Personal assistant to former President Buhari.

The source said: “The Special Investigator, Jim Osayande Obazee and his committee, allegedly discovered $275 million in an account in a new generation bank belonging to six years old son of Sabiu Yusuf.

“Another N1.5 trillion also allegedly traced to Yusuf, a very influential member of the former President Mohammadu Buhari’s Govt.

“President Bola Ahmed Tinubu is currently negotiating, using some influential Nigerians on how to refund the funds without being exposed.

“Only recently, National Security Adviser, NSA, Nuhu Ribadu, lamented that the current administration inherited a bankrupt country from the Buhari’s government due to the large scale looting that occurred then.”

It could be recalled that Tinubu employed the services of Mr. Obazee, a Special Investigator, to investigate the activities of CBN under Emefiele and related entities.

So far, Obazee has recovered over N12 trillion looted mostly by members of the former President Buhari’s administration.

The source also claimed that the committee has also rejected several millions of Dollars in bribe offers from former members of the Buhari’s Government to avoid being arrested and exposed.

Central Bank of Nigeria (CBN) Governor Yemi Cardoso said the apex bank has discovered $2.4 billion invalid forex outstanding claims pressuring the naira and causing anxiety in the currency market.

Cardoso disclosed this in an interview with Arise Television on Monday.

According to Cardoso, this was uncovered during an audit by the consultant the CBN hired, which exposed a number of dubious transactions.

The CBN Governor stated that the apex bank commissioned Deloitte to look into the FX allegations to provide a true picture of the situation.

Cardoso said, according to the Deloitte assessment, up to $2.4 billion of the backlog consists of fictitious claims, with claimants in certain cases being unable to provide import documentation.

“We had had reasons to believe we needed to take a harder look at these obligations. So we contracted Deloitte management consultants to do a forensics of all these obligations and to actually tell us what was valid and what was not,” Mr Cardoso said.

“The result that came out of this was startling in a great respect. It was startling. We discovered that of the roughly $7 billion, about $2.4 billion had issues, which we believe had no business being there and the infractions on that ranged from so many things, for example not having valid import documents and in some cases entities that do not exist,” he said.

Minister of Information and National Orientation, Mohammed Idris, has said the Tinubu administration is committed to implementing macroeconomic reforms.

aimed at curbing inflation, easing the cost of living, and stabilising the foreign exchange as part of the broader objective of boosting economic growth.

The Minister stated this on Saturday in Minna, Niger State, at the 2024 Press Week of the Niger State Chapter of the Nigeria Union of Journalists (NUJ).

Represented by the Director General of the Voice of Nigeria, Mallam Jibrin Baba Ndace, the Minister said the year 2024 holds a lot of prospects for Nigerians as some of the promising initiatives of the administration begin to bear fruit.

“Permit me, distinguished invited guests, as chief spokesperson of the Federal

Government of Nigeria, to use this hallowed platform to tell Nigerians, at this early and auspicious time of the year, that 2024 would be a great year for Nigeria as thepolicies of President Bola Ahmed Tinubu under the Renewed Hope Agenda takefirmer roots for the growth of our nation’s economic development, our invaluablehuman assets, and national security.

“The Tinubu administration will continue to implement macroeconomic reforms.

to achieve broad economic objectives of sustained economic growth aimed at

bringing down inflation, easing the cost of living, and stabilising foreign exchange

and job creation, among others,” he said.

Idris said, against the backdrop of the withdrawal of fuel subsidies, liberalising the foreign exchange regime, and the fight against corruption, the Tinubu government is showing fidelity to the rule of law and the independence of institutions, as demonstrated in the recent judgements of the courts.

The Minister explained that the recent Federal Government decision to relocate certain departments of the Central Bank of Nigeria (CBN) and the headquarters of the Federal Airports Authority of Nigeria (FAAN) to Lagos is part of a broader strategy to enhance operational efficiency, streamline processes, ensure a responsive financial system for Nigeria, and cut operations costs. He emphasised that the government’s directive aligns with global best practices and has no political motivation, however wrongly propagated.

The minister assured that no policy of the present administration would put any part of the country in a disadvantageous position. “President Bola Ahmed Tinubu’s commitment to fairness and equitable development, as outlined in his oath of office, ensures that no policy under his administration will disadvantage any region. His dedication to fostering national unity and inclusivity is reflected in policies guided by principles of fairness and equality,” he said.

The Minister, who also used the occasion to enlist the support of the media in the fight against fake news, said the hydra-headed menace of fake news is ravaging the media space. “My dear colleagues, we need to rise against the elements of fake news that are deliberately designed to misinform Nigerians,” he said.

Idris also announced to the gathering that the Federal Government would soon unveil comprehensive details of the National Values Charter, which are aimed at inculcating values in the citizenry.

The Federal government has debunked a media report that it plans to convert foreign exchange in depositors’ domiciliary accounts to naira, describing it as tantamount to economic sabotage.

There had been a viral media report on Saturday to the effect that the Federal Government has perfected plans to convert foreign exchange in domiciliary accounts.

However, the Coordinating Minister of Economy, Wale Edun, in a statement on Saturday, said such reports were false and misleading.

According to Edun: “There is no iota of truth in the claims of Punch Newspaper that the Federal Government plans to convert foreign exchange in depositors’ domiciliary accounts to naira.

“The publication of such falsehood at a time when the government is working to restore economic stability and confidence in the national currency is tantamount to economic sabotage.

“This report in the Punch Newspaper violates the standards of responsible journalism.

“For the avoidance of doubt, I emphasise that depositors’ foreign currency in their domiciliary accounts will not be converted to naira.”

Newsmen had reported that there were strong indications that the Federal Government was mulling a policy that will result in the conversion of foreign currencies in domiciliary accounts of citizens to naira to stabilise the national currency, which earlier this week recorded its worst performance in history.

It had said that if the Nigerian government goes ahead with the plan, the government will order the conversion of foreign currencies sitting idly in individuals’ and corporate organisations’ domiciliary accounts to naira at a rate to be determined by the Central Bank of Nigeria.

According to top Presidency sources, the move is meant to stabilise the naira, which recorded its biggest fall in the official Nigerian Foreign Exchange Market on Monday, depreciating by 24 per cent to close at N1,348 per dollar.

One of the Presidency sources said that the problem of forex scarcity and the naira fall was an elite issue, adding that the Federal Government would not fold its arms and continue to watch some individuals hoarding foreign currencies at the expense of the naira.