CBN Fires 16 Directors Following Implementation Of Obaze Report (See List)

The Central Bank of Nigeria (CBN) has reportedly disengaged sixteen out of twenty-nine directors heading different units within the apex bank.

Plateau News has learned that this action is part of the implementation of recommendations made by Jim Obazee, the special investigator examining the activities of the CBN under the former governor, Godwin Emefiele.

It would be recalled that President Bola Tinubu appointed Jim Obazee in July to investigate the activities of the Central Bank of Nigeria (CBN) and other related entities under the leadership of the former governor, Godwin Emefiele.

According to the report submitted to the president in December 2023, the investigation accused the former CBN governor of several wrongdoings, including keeping £543.5 million in fixed deposits in the UK without seeking the consent of the bank’s board of directors and investment committee and a “fraudulent cash withdrawal of $6.23 million.”

Emefiele was also said to have invested Nigeria’s money without authorization in 593 foreign bank accounts in the UK, the US, and China, manipulated the exchange rate, and committed fraudulent acts in the CBN’s e-Naira project.

The report accused the ex-CBN governor of “stealing public funds through government advances otherwise known as Ways and Means” to the tune of N17.37 trillion.

Sources familiar with the operations in CBN confirmed to PREMIUM TIMES the disengagement of the sixteen directors, stating that only nine departmental directors are left at the regulatory institution. The most senior deputy directors in the affected departments are now in charge.

The insiders said the directors were relieved of their duties following the implementation of the CBN special investigator’s report, which accused several of the bank’s staff of conniving with Emefiele to allegedly loot the bank.

Another CBN official confirmed the development, stating that the specific allegations against the disengaged staff members have not been disclosed, and law enforcement agencies might prosecute some of the officials.

The disengaged directors include the following,

  • Muhammed Rakiya Shuaibu (information technology)
  • Aisha Isa-Olatinwo (branch operations)
  • Mustafa Haruna Bala (financial policy & regulation)
  • Mahmud Hassan (trade & exchange)
  • Nwaegberue Chibuike (other financial institutions)
  • Nnaji Ozoemena (statistics)
  • Efobi Chibuzo Anthony (payments system management)
  • Habib Amina (human resources)
  • Yusuf Phillip Yila (development finance)
  • Eze Paulinus Chinyere (financial system strategy)
  • Elizabeth Amos Kwaghe (currency operations)
  • Chukwurah Maureen Omolola (medical services)
  • Samuel Chukwuyem Okojere (banking services)
  • Stanley Arinze A (procurement and support services)
  • Omayuku Joseph Gbubemi (governor’s department)
  • Asiegbu Nkiru Eunice (special duties).