Full List: 17 Allegations CBN special investigator levelled against Emefiele

The report said Emefiele used proxies to acquire some new-generation banks when held away as the governor of CBN.

In the report submitted to President Tinubu on December 20, Obaze detailed a total of 17 allegations against Emefiele, including how a bank was acquired in 2019 allegedly by Emefiele and a late businessman.

He further disclosed that the bank was acquired by the two individuals without evidence of payment

Here are the 17 allegations laid against Emefiele:

Unauthorised bank accounts

The embattled former governor of the CBN was accused of operating 593 bank accounts without authorisation.

According to Obazee in his report, these unauthorised bank accounts are located in United Kingdom, United States and China.

Illegal cash withdrawal

Emefiele was also accused of withdrawal of $6.23 million from CBN vault of the apex bank.

Obazee reported that the former CBN governor fraudulently withdrew the cash to pay foreign election observers under a purported approval of the president

Financial misconduct

The former CBN governor was also accused of gross financial misconduct This financial misconduct was done alongside 13 other individuals, including former governors.

Manipulation of exchange rate

The former CBN governor was also accused of manipulating the naira exchange rate.

The report also alleged that Emefiele perpetrated fraud in the e-Naira project of the CBN.

Illegal Naira Redesign policy

Emefiele was said to have implemented the naira redesign policy without the recommendation of the Board of the CBN.

It was also disclosed that the policy was not expressively approved by the immediate past President Muhammadu Buhari.

14 other allegations are highlighted below

£543.4 million kept in fixed deposit by Mr. Emefiele.

The CBN printed the new N200, N500, N1,000 notes at a total cost of N61.5 billion out of which N31.8 billion has been paid to the Contractor.

The sum of N1.73 billion was spent on questionable legal fees on 19 cases that are directly traceable to the Naira Redesign and reconfiguration agenda.

£205,000 was paid to a UK Firm for Naira Redesign effort – positioning of watermark, presence of QR codes, different numbering style, and other complex security features.

Fraudulent use of Ways & Means to the tune of N26.627 trillion.

Fraudulent intervention programmes. Fraudulent expenditures on COVID-19.

Misrepresentation of presidential approval on the NESI Stabilization Strategy Ltd.

Padding of former president Buhari’s approval with N198.96 billion – approximating N801.04 billion to N1 trillion.

No approvals are received from the former president and yet N500 billion was taken and debited to Ways & Means.

Former CBN Governor and 4 Deputies connived to steal outrightly in order to balance the books of the CBN.

No approval for the breakdown of N22.72 trillion presented to the 9th National Assembly to illegally securitize the “Ways & Means” financing.