Tinubu reviews document as CBN investigator submits interim report

The Federal Government will soon release the audit report of the investigation into the Central Bank of Nigeria, according to George Akume, Secretary to the Government of the Federation.

On July 28, 2023, President Bola Tinubu appointed Jim Obazee, a former CEO of the Financial Reporting Council of Nigeria, as the CBN’s Special Investigator.

The special investigator will report directly to the President’s Office, the President said, asking them to look into the CBN and other important government-owned businesses.

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But the SGF stated on Monday that the CBN’s investigation report, when it became available to the public, would show how bad leadership led to the nation’s current situation.


Answering questions during a news conference in Abuja on the 63rd anniversary of Nigeria’s independence, Akume disclosed the information.

He claims that the study will help Nigerians understand what actually went wrong and how the nation ended itself in this predicament.

He declared, “Bad governance is to blame for the majority of the issues we face. These are problems that the current government has faced and continues to face. President Bola Tinubu made a wise choice at the CBN when he joined the team. Experts have informed us that the stock market saw a significant uptick as a result of that one act, which has never occurred in the previous fifteen years.

“The CBN has a new team, and a special investigator has been there for a while. His findings will be made public soon, and Nigerians will understand what truly went wrong and what led us to this point in time.”

In a letter dated July 28, 2023, Tinubu had requested that Obazee make sure the investigation uncovered public funds held by private parties.

“In accordance with the fundamental objective set forth in Section 15(5) 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,” stated part of the letter addressed to the special investigator. This appointment is effective immediately, and you will be reporting to my office directly.

Nevertheless, research published on Monday by The PUNCH showed that Obazee had sent the President’s office an interim report more than a week prior.

Several sources stated that the President has submitted the preliminary report for any necessary action.

More over a week ago, the President’s Office received a preliminary report from the CBN Special Investigator. A senior person with knowledge of the development spoke to The PUNCH on condition of anonymity because he was not authorized to comment on the topic. “The investigation is still ongoing, but the preliminary report is meant to give the President an idea of what has been discovered so far,” the official said.

It was discovered that the president would be able to make some crucial choices using the interim report that would aid in the nation’s progress.

As of the time of publication, officials claimed that the interim report was the reason for the CBN’s leadership shift last week, although this could not be independently confirmed.

It is reported that the president and his team are presently examining the report in order to make a suitable judgment regarding it as soon as possible.

The CBN’s recently issued annual financial reports were allegedly criticized by the special investigator for the CBN.

Consequently, word spread that the CBN would be asked to remove its audited yearly financial reports.

A Special Investigator appointed by President Bola Tinubu is currently investigating the financial services industry regulator. In August, the CBN released its financial statements for the years 2016 to 2022.

SGF regarding autonomy

On the other hand, the SGF announced on Monday that no international leader had been invited to Nigeria’s 63rd independence day, which is set for October 1. The decision was made in accordance with Nigeria’s preference for a low-key commemoration.

Low-key celebration has nothing to do with whether or not we’re performing poorly, he declared. The current economic climate is challenging, not only for the country as a whole but also for our own family. The leaders of the world are not invited. We have not invited any foreign leaders; 53 world leaders were invited to the President’s inauguration.

“As you know, the President has authorized a low-key celebration for this 63rd anniversary, taking into account the current state of the economy. “Nigeria @ 63, Renewed Hope for Unity & Prosperity” is the anniversary’s theme.

Speaking on behalf of the country, he declared, “Despite our differences, we have all decided to live in a united, peaceful, prosperous nation.” There is no nation that can advance without these. The government is watching out to protect the interests of our country.

He said the celebration is especially significant now because there has been a continuous democratic record since 1999 and a smooth, successful, and orderly presidential transition from one administration to the next.

The SGF declared, “Nigerians have fully embraced democracy with its core values and practices as the best form of governance, despite political tremors and a wave of coups in some parts of the ECOWAS sub-region.” Through elective structures and procedures, democracy gives its citizens the chance to actively engage in national affairs.

In a representative democracy, the people and the government have a symbiotic relationship in which the government upholds the rights of the people and offers security, protection, and advancement of their interests.

“The administration is fully aware of the effects of the global economic crisis as well as the financial difficulties that Nigerians have faced since the fuel subsidy was removed. The government is working tirelessly to offer the required palliatives to lessen these difficulties, as well as buses to lessen the burden on transportation, among other things. In order to solve issues that are important for the welfare of all Nigerian employees and Nigerians in general, the government is interacting with labor at the same time.

An anniversary symposium and public lecture were scheduled for Thursday, September 28, 2023 at the State House Conference Center at 10 a.m.; a lecture was scheduled for Friday, September 29, 2023 at the National Mosque Conference Center at 10 a.m.; and there would be a Juma’at prayer at the National Mosque at 1 p.m.

In addition, Akume announced a military parade scheduled for Monday, October 2, 2023 at the Presidential Villa at 9 a.m., an interdenominational church service on Sunday, October 1, 2023 at 10:00 a.m., and a presidential broadcast on Sunday, October 12023 at 7 a.m.

Therefore, in order to turn our nation into the land of our dreams, I am calling on you as media professionals and patriots to assist this administration and create a viable relationship. Additionally, I rely on you to spread the word about events planned to commemorate Nigeria’s 63rd year of independence,” he stated.

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