CBN probe: Tinubu, Cardoso’s anti-corruption drive yielding results — Analyst

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By Sumaila Ogbaje

A Lagos-based public affairs analyst, Gbenga Ibrahim, has commended President Bola Tinubu and the Governor, Central Bank of Nigeria (CBN), Yemi Cardoso, for driving change through ongoing anti-corruption campaign in CBN.

Ibrahim, told the News Agency of Nigeria (NAN) on Sunday in Abuja, that Tinubu had announced significant progress in the investigation into the CBN.

He said the probe, led by special investigator Jim Obazee, had uncovered a staggering amount of stolen funds, unauthorised bank accounts, and fraudulent transactions totaling billions of naira.

According to him, sources have revealed that the investigation implicated former CBN Governor, Godwin Emefiele, who is currently facing charges in courts.

“Emefiele is accused of financial misconduct and abusing his position for personal gain.

“The probe has revealed a complex web of corruption involving top officials at the CBN and other related entities.

“Investigators have discovered numerous unauthorised bank accounts, both within and outside the country, containing billions of naira in stolen funds,” he said.

Ibrahim said the investigation also uncovered evidence of fraudulent transactions, including a controversial Naira redesign project that allegedly stifled productivity and led to chaos in October 2022.

The project, according to him, is a conspiracy against the Nigerian people and political class by the then-CBN Governor and one of the erstwhile CBN Deputy Governors.

He attributed the successes of the investigation to the ability of Cardoso led leadership to identify capable hands like Bala Bello, an experienced and competent professional.

“Though I have never met the Governor or his deputies, inside sources confirmed that Bello is a very Deligent , meticulous and analytical person.

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“A staff has described him as workaholic and straight forward, most times the first to come to the office and last to leave is part of the CBN management team led by Yemi Cardoso.

“He rose through the ranks to become Deputy Governor, Corporate Services, a position requiring rigorous security checks and scrutiny.

“It is unfair to blame him for implementing recommendations from the special investigation counsel appointed by the president,” he added.

Ibrahim said the successes at the CBN was a result of teamwork, compliance with APEX bank’s policy, and a capable team following the CBN hierarchy.

According to him, has commendably taken decisive action to combat corruption in the CBN, appointing a special investigator to probe the bank and related entities.

He lauded the administration’s commitment to transparency and accountability, adding that it is a significant step forward in the fight against corruption.

According to him, the President’s efforts have sent a strong message that corruption will no longer be tolerated in Nigeria’s financial sector.

“As the investigation continues, Nigerians are optimistic that President Tinubu’s anti-corruption drive will yield even more significant results, restoring public trust and integrity to the CBN and related entities,” he said. (NAN) (


Edited by Isaac Aregbesola

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