President Bola Tinubu has appointed a special investigator, Jim Osayande Obazee, to probe the Central Bank of Nigeria (CBN) and Related Activities.

 The President made the appointment via a letter addressed to Obazee who is the Chief Executive Officer of the Financial Reporting Council of Nigeria (FRCN).

The letter in part reads

“In accordance with the fundamental objective set forth 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 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.

The full terms of your engagement as Special Investigator shall be communicated to you in due course but, require that you immediately take steps to ensure the strengthening and probity of key Government Business Entities (GBEs), further block leakages in CBN and related GBEs and provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments (whether private or public).

You are to investigate the CBN and related entities using a suitably experienced, competent, and capable team and work with relevant security and anti-corruption agencies to deliver on this assignment. I shall expect a weekly briefing on the progress being made.”

President Bola Tinubu on June 10, 2023, suspended Emefiele as the Governor of the Central Bank of Nigeria.