CBN audit report would be available soon – FG

The Federal Government has revealed that the report of the audit of the Central Bank of Nigeria (CBN) by a special investigator would be out soon.

This was disclosed by The Secretary to the Government of the Federation, George Akume while speaking to journalists during a press conference in Abuja building up to the 63rd independence anniversary of Nigeria.

The SGF acknowledged that bad governance has been responsible for the economic challenges facing the nation but stressed that the audit report would make Nigerians aware of what went wrong.

CBN Investigation

Recall that Nairametrics reported that President Bola Tinubu had appointed Jim Obazee, Chief Executive Officer of the Financial Reporting Council of Nigeria, as a special investigator to probe the Central Bank of Nigeria (CBN) and related entities.

According to reports, the President made this appointment via a letter where he revealed that the investigation was to begin with immediate effect.

President Tinubu also disclosed that the action is part of its fight against corruption, adding that the special investigator will report directly to his office.

Here’s an excerpt from the letter: “By the fundamental objective outlined in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), this administration is today, continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities.
This appointment shall be with immediate effect, and you are to report directly to my office.”

More on Audit Report

The Secretary to the Government of the Federation, George Akume, said Nigerians would know what went wrong and what brought the country to its present situation.

According to the SGF: “Most of these problems confronting us are because of bad governance. The present government has confronted and is confronting these challenges.
When President Bola Tinubu came on board, he made a very sound decision at the CBN. That singular act led to a massive improvement in the capital market, as experts have told us, it is something that can never happen in the past 15 years.

We have a new team at the CBN, and a special investigator has been in the CBN for some time now his result will soon be released, and Nigerians will know what went wrong and what brought us to where we are today.”
Back Story
President Tinubu had suspended the former Governor of CBN, Godwin Emefiele citing ongoing investigations and planned reforms in the financial sector.

Following several court charges, Godwin Emefiele eventually resigned from his position last month paving the way for the appointment of a new CBN Governor.

President Bola Tinubu recently nominated Dr. Olayemi Cardoso, who was a former Chairman of Citibank Nigeria, as the new Governor of the CBN, alongside 4 others who were also nominated as Deputy Governors.

The new CBN leadership is set for screening by The Senate for official confirmation.