The Economic and Financial Crimes Commission (EFCC) has reportedly uncovered N70 billion fraudulently realised by the suspended Governor of the Central Bank (CBN) Godwin Emefiele in connivance with others.
“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.
“Mr. Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.”
However, the source on Friday said Emefiele grossly abused the privileges of the office by making quick cash from forex differential fraud with the help of the Sarkin Hausawa of Lagos, Yaro and his wife, who is said to be an employee of the apex bank.
“This is a case of forex differential fraud involving the CBN governor, Godwin Emefiele.
“The governor sells forex to various individuals at the official rate on paper. He has an understanding with the individuals that they will sell at the black market rate when the CBN credits the banks of the individuals that buy the forex.
“When they sell, the difference will be paid into the account of Aminu Yaro on behalf of Emefiele,” one of the sources said.
“The wife of Aminu Yaro is an employee of CBN and a signatory to the company account where the money is paid into. She has also been invited by the EFCC for questioning.
“The case was compromised by the suspended Chairman of the EFCC, Abdulrasheed Bawa because some people close to the seat of power are involved.
“They charge the wife for SCUML (Special Control Unit Against Money Laundry) offences but the main case was left out while the differentials in forex exchange malpractice raised benefits of about N70 billion,” another source said.
Meanwhile, President Tinubu has directed the unification of foreign exchange rates against the multiple foreign exchange regimes of former President Muhammadu Buhari’s administration.
Tinubu Wednesday suspended Bawa from office indefinitely.
According to a release from the presidency on Wednesday, Bawa’s suspension is “to allow for proper investigation into his conduct while in office. This follows weighty allegation of abuse of office leveled against him.
“Mr Bawa has been directed to immediately hand over the affairs of his office to the Director, Operations in the commission, who will oversee the affairs of the Office of the Chairman pending the conclusion of investigation.”