Probe Uncovers N4 Trillion Refund, Relinquished Interests in Banks from Emefiele, Other Ex-CBN Officials, Buhari Aide

The ongoing investigation into activities at the Central Bank of Nigeria (CBN) under its former governor, Mr. Godwin Emefiele, has reportedly uncovered large-scale financial irregularities involving several former senior officials and associates of the previous administration.

According to sources familiar with the probe, the Special Investigator appointed by President Bola Tinubu, Mr. Jim Obazee, allegedly traced the sum of about ₦4 trillion said to have been refunded by Emefiele to government coffers.

The same source claimed the former apex bank governor also relinquished ownership of six banks purportedly linked to him.

In a related report, a former CBN Deputy Governor, Mr. Tunde Lemo, was also alleged to have refunded about $500 million.

The source further alleged that investigators discovered $275 million in the account of a six-year-old child said to be related to Mr. Sabiu “Tunde” Yusuf, a former Personal Assistant to ex-President Muhammadu Buhari.

In addition, about ₦1.5 trillion was reportedly traced to an account allegedly connected to the same aide.

The unverified report added that President Tinubu is “using influential intermediaries” to recover some of the funds allegedly traced to officials of the previous administration.

The source was quoted as saying:

“The Special Investigator, Jim Osayande Obazee, and his committee allegedly discovered $275 million in an account in a new generation bank belonging to the six-year-old son of Sabiu Yusuf. Another ₦1.5 trillion was also traced to the same family.”

The source also claimed that the investigation team had “rejected several million-dollar bribe offers” from individuals attempting to obstruct the probe.

Although the Presidency and the CBN have not issued any official statement confirming these claims, the investigation reportedly forms part of the ongoing effort to trace funds allegedly mismanaged during the tenure of the previous administration.

It will be recalled that President Bola Tinubu, shortly after assuming office, appointed Mr. Obazee as a Special Investigator to examine the financial activities of the CBN and related government entities.

So far, sources close to the panel claim that the investigation has led to the reported recovery of more than ₦12 trillion, though no official audit or public confirmation has yet been released.

As of press time, none of the individuals mentioned, including Mr. Emefiele, Mr. Lemo, or Mr. Yusuf, had publicly responded to the allegations.

Efforts to obtain comments from their representatives were unsuccessful.