JUST IN: Emefiele indicts business moguls, bank MDs as beneficiaries of massive corruption in CBN

Sources within the presidency have revealed that the former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has mentioned some bank chiefs and business moguls to be involved in illegal financial activities with government funds.…CONTINUE READING

The Street Journal learned that Emefiele revealed that the indicted individuals were either beneficiaries of the sleaze funds or accessories who facilitated the disbursement of the monies under investigation.

Recall that President Bola Tinubu had set up an special investigative team to look into activities of the CBN under Emefiele.

The special investigative team was headed by Jim Obaze who was appointed by the President.

Some of these bank executives and business moguls are now said to be making frantic moves to reach out to top aides of the President in the Aso Rock Villa to plead for leniency.

It was also gathered that some industry players, met with President Tinubu to give them a soft landing in the special investigation headed by Obaze, as the panel gets ready to submit its interim report to the President in the coming days.

Some of the banks’ chiefs, who benefitted from the Anchor Borrowers programme and business moguls involved in dollar round-tripping, had earlier trailed Tinubu to France, the United Arab Emirates, UAE, and Saudi Arabia when the President visited these countries on official duty.

A source within the Presidency said that the bank chiefs and business moguls went to meet the President in a last minute attempt to prevent the Obaze-led team from including them among those to be arraigned for prosecution.

“The President washed his hands off the case because it is a matter solely for the special investigator and he is unlikely to interfere. They should be ready to defend their actions if called upon,” a source close to the President said.