EFCC Begins Investigation Of Ex-CBN Gov, Emefiele, Over Alleged N15B Fraud

The Economic And Financial Crimes Commission (EFCC) yesterday began a full-scale probe of the former Governor of CBN, Godwin Emefiele, with alleged $15 billion foreign debts topping the investigation.

Emefiele will also account for how the apex bank spent N74.84 billion to produce and roll out currencies, including new naira notes

The allegations are in addition to alleged fraud uncovered by the Special Investigator, Jim Obazee, who is looking into the activities of the CBN.

Obazee, whose committee is collaborating with the Federal Bureau of Investigation of the Nigeria Police, has also submitted an interim report on the CBN to President Bola Ahmed Tinubu.

A panel of EFCC operatives had started grilling Emefiele on the allegations against him, including the following:

– Alleged foreign debts of $15 billion

– Spending of N74. 84 billion on Naira redesign, production and roll out of currencies

– Alleged fraud in Anchor Borrowers Scheme

– Suspicious audit of CBN accounts

– Acquisition of bank, Fintech licences by some top officials of CBN.

-Award of suspicious billions of Naira contracts.