Headline
CBN Probe: Influential Nigerians Seek Tinubu’s Soft Landing Over $5bn FX
As the Jim Obazee-led special investigative panel probing the Central Bank of Nigeria (CBN) wraps up its assignment, influential Nigerians fingered in various financial infractions are jostling to meet with President Bola Tinubu to secure a soft landing.
Top on the list are top importers, manufacturers and politically-exposed businessmen who are allegedly neck deep in foreign exchange round-tripping totalling over $5 billion.
It was gathered that presidential aides are blocking these persons from having access to Tinubu in order not to affect the investigation nor its outcome.
Reliable sources told Daily Sun that President Tinubu is not ready to listen because “he wants to cleanse the financial ecosystem and plant the economy on a success path.”
“Those fingered in any infractions will be made to face the full wrath of the law because there are no sacred cows. They’re part of the reasons the foreign exchange market is in disarray and efforts are ongoing to restore normalcy and confidence in the system.
“I know many of them are lobbying seriously to meet with President Tinubu to secure some sort of soft landing, including returning the FX and avoiding prosecution. The panel has uncovered a lot of things and many of these influential people are currently on the investigative dashboard of the panel. Their staff have been grilled and a lot has been uncovered. The full report will be ready any moment from now”, a source close to the panel told Daily Sun”.
It was also discovered that members of the investigative panel have been receiving threatening messages since they lifted the lid on various financial malfeasances of FX traffickers whose firms have also come under investigation.
In July, President Tinubu constituted a special investigative panel to probe the apex bank and other Government-owned businesses.
He directed the team to report directly to his office to insulate them from hurtful bureaucratic bottlenecks.
In September, the panel extended its dragnet to companies and establishments owned by top shots of the apex bank and board members.
While the companies were kept under wraps as investigations deepened, Daily Sun, however, gathered that some of them were believed to be used as conduits for anchor borrowers’ loans and foreign exchange rackets; as there are no commensurate investments on ground to justify the hefty facilities.
In the course of the investigation, former CBN Governor, Godwin Emefiele and his deputies resigned and were replaced with a fresh team led by Dr. Yemi Cardoso.
In August, the apex bank released its Consolidated Financial Statements for the last seven years, making it the first time since 2015 that the apex bank will open its book available for public scrutiny.
The Minister of Justice, Lateef Fagbemi, SAN has warned against obstructing the Economic and Financial Crimes Commission (EFCC) from carrying out its lawful duty .
Fagbemi’s warning is contained in a statement in Abuja.
“This is a matter of very grave concern, it is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigations into any matter, regardless of status.
“Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC, but to honourably answer their invitation.
“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting’’.
He added that running away from the law will not resolve issues at stake but only exacerbate them.
“Nigeria has a vibrant judicial system that is capable of protecting everyone who follows the rule of law in seeking protection.
“I therefore encourage anyone who has been invited by the EFCC or any other agency to immediately toe the path of decency and civility by honouring such invitation instead of embarking on a temporising self-help and escapism.
“This can only put our country in bad light before the rest of the world’’.
He said institutions of state should be allowed to function effectively and efficiently.
“I stand for the rule of law and will promptly call EFCC, and indeed any other agency to order when there is an indication of any transgressions of the fundamental rights of any Nigerian by any of the agencies’’.
NAN reports that the EFCC had on Wednesday warned members of the public that it was a criminal offence to obstruct officers of the Commission from carrying out their lawful duties.
Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years.
The warning , the EFCC said, became necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC.
On several occasions, the anti graft agency said, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order.
Some unknown gunmen have kidnapped Joshua Rogers, the ChannelsTV reporter in Port-Harcourt, the Rivers State capital.
Politics Nigeria learnt that Rogers was picked up close to his residence at Rumuosi in Port Harcourt and to an unknown destination by the gunmen around 9pm on Thursday, April 11.
The reporter was driving his official ChannelsTV branded car when the hoodlums accosted, pointed a gun at him and took him away in the same vehicle.
Rogers was said to be returning from his official assignment in Government House after a trip to Andoni for a government event when the incident happened.
Already, the gunmen were said to have contacted his wife and demanded a N30million ransom for bis release.
His cameraman confirmed the incident and appealed to his abductors to set him free unconditionally.
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