Home Exclusive Despite $2.5Billion Scandal, Emefiele Gets Reappointment As CBN Gov

Despite $2.5Billion Scandal, Emefiele Gets Reappointment As CBN Gov

by Our Reporter
The anti-corruption war of the President Muhammadu Buhari has been put on trial over the reappointment of the Godwin Emefiele who has been stonewalling inquest into how over $2.5 Billion got missing under his watch from Nigeria’s treasury.
President Muhammadu Buhari, had on Wednesday reappointed Emefiele for a second term in office as CBN governor. Buhari had retained Emefiele as the CBN boss who was first appointed in 2014 by former President Goodluck Jonathan.

But an anti-corruption expert, George Uboh, who runs the George Uboh Whistleblowers Network (GUWN), had written to the Emefiele to explain how over $2.5 Billion USD got missing under his watch as CBN governor.

The letter filed on April 3, 2019, had the reference no.

Giving the breakdown of illicit transactions, Mr Uboh said, in “2017 alone, the CBN under your watch under-declared and under-remitted $760,000,000:00 USD exchange gains which accrued from BDCs to Federation account through Lagos, Kano, Abuja and Awka. Please see attached;

“That the CBN under your watch conspired with NNPC to divert $24,263,008.56 USD in 2015 expected to be shared through FAAC in January 2016 to the three tiers of government; and,

“That the CBN under your watch in collusion with NNPC denied the three tiers of government revenue from crude oil and gas from May 2015 to June 2016 (14 months), but diverted over $1.78 billion USD through fake accounts. Please see attached.

“The aggregate of the above funds missing under your watch in a fraudulent manner is over $2,564,000,000 USD.”

But Emefiele had refused to offer explanations on the illicit transactions that were done under his watch. He had gone silent on the alleged corrupt transactions.

Following his refusal to offer explanations on the missing public  funds, despite media interventions by the anti-graft organisation, Mr Uboh said “Again, since the May 6, 2019 press conference, Emefiele has kept mute on my allegations that $2.5 Billion USD was missing under his watch thus Emefiele has acquiesced or conceded to my allegations.

“In the face of the foregoing, I call on all Nigerians on the homeland and in the Diaspora whose funds are kept in trust at the Central Bank of Nigeria (CBN), to jointly and severally ask Emefiele to account for the $2.5 Billion USD at bar and compel him to return the $2.5 Billion USD to the Treasury Single Account (TSA) in line with President Buhar’s TSA policy rolled out in late 2015.

“Any Nigerian anywhere in the world who reads the entirety of this press release, sights the caption of this press release or hears of this press release through people who have read this press release and refuses to call on Emefiele to account for and/or return the $2.5 Billion USD to TSA is part of this hydra headed monster called corruption plaguing our dear country Nigeria.

“A man holding the hallowed and revered position of CBN governor who should enforce the President’s TSA policy, who should strive to increase the funds that go into FAAC (shared by the three tiers of government monthly), is the same person diverting TSA/FAAC-bound funds. With such leaders and office holders in Nigeria, do we conclude that Nigeria is indeed cursed with bad leaders or cursed with the masses who cannot and have not been able to drag looters through the mud to account for looted funds.

“I call on all security agencies in Nigeria to, in a joint effort, arrest Emefiele within 72 hrs. My fellow Nigerians, while I await your swift reaction to the foregoing shameful act by Emefiele which smacks of betrayal of oath of office,” he said.

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