Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele has reportedly refunded ₦4 trillion to the Federal Government, allegedly surrendering ownership of six banks linked to him. Former CBN Deputy Governor Tunde Lemo is said to have refunded $500 million. Investigators led by Jim Obazee have recovered over ₦12 trillion so far, amidst claims of bribery attempts to obstruct the probe. ¹ ² ³
The investigation uncovered $275 million in an account tied to a 6-year-old boy, son of a former presidential aide, with an additional ₦1.5 trillion traced to the same family. National Security Adviser Nuhu Ribadu warned that the current government inherited a deeply troubled economy due to past looting.
However, Emefiele’s family denies the allegations, calling them an attempt to tarnish his reputation. The Ministry of Finance also claims no record of such refunds.
Would you like to know more about the investigation’s implications or the response from Emefiele and his associates?
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