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Emefiele: 20 Banks Face Probe Over Forex Deals - Business - Nairaland

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EFCC Probes Dangote, BUA, 50 Other Companies Over Forex Transactions / CBN Liquidates 20 Banks - NDIC (names) / Forex Deals: Firm Drags CBN To Court, Accuses Officials Of Bribery (2) (3) (4)

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Emefiele: 20 Banks Face Probe Over Forex Deals by Islie: 3:19pm On Jan 08
•Inquiry to cover nine-year period

•Suspended NSIPA boss appearing before investigators daily —Source



The probe instituted by the Economic and Financial Crimes Commission (EFCC) into the use of foreign exchange by some companies and financial institutions under the former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele is to be spread to at least 20 banks, sources close to the commission have said.

Nigerian Tribune was reliably told at the weekend that the probe, which has seen operatives storm corporate offices of Dangote Group and some others would be extended to at least 20 commercial banks, while some merchant banks would also be investigated.

The source said that the investigation would span at least nine years, adding that commercial banks, merchant banks and some other companies are being investigated.

“I cannot say how the media got the figure of 52 companies, but they are quite a number. This is a general investigation on the use of foreign exchange in nearly the past nine years and it is not an isolated case targeted at a particular company,” a source said, adding that a whole lot of issues are being looked and the issue of forex is ringing bell because of its implication for the national economy.”

The source also added that the EFCC was looking into allocation of foreign exchange to friends and associates of Emefiele by the former CBN governor.

Another source said that the EFCC got Emefiele released to it by the Department of State Services (DSS) in October and since then a lot of investigations have gone into his activities at the helm of affairs at the CBN, adding that what is ongoing is an all-encompassing investigation into the roles of banks and financial institutions as well as heavy forex users around the time in question.

A source close to the development, however, said that the paucity of information of the matter so far was as a result of the need for the EFCC to avoid being accused of media trial and that the commission was carefully perusing all documents needed to make conclusive deductions.

“What is happening is a general investigation into forex allocations under Emefiele. It is not intended to embarrass any corporation or agency,” a source close to the commission said.

Concerning the ongoing probe of the former Minister of Humanitarian Affairs, HajiaSadiya Umar-Farouk, who is being investigated over alleged N37 billion fraud, a source said that the former minister may be given a deadline to appear before the commission this week.

The former minister had failed to appear before the commission all through last week on indications that she was suffering from illness.

A source who spoke on the suspended Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), Hajia Halima Shehu said that the suspended CEO has been cooperating with investigators and that she has been appearing before investigators since last week.

A source close to the development told the Nigerian Tribune: “I can confirm to you that Halima, CEO of NSIPA has been appearing before investigators. She resumes in the morning and closes at the end of the day. That should continue this week until investigators are satisfied. As for Umar-Farouk, the commission may have to come hard on this suspect because she has not appeared at all. A day will be set for her appearance.”

https://tribuneonlineng.com/emefiele-20-banks-face-probe-over-forex-deals/

6 Likes 1 Share

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Nbote(m): 3:20pm On Jan 08
Ok na
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by PoliteActivist: 3:27pm On Jan 08
*Politeness*
Only God knows the type of unbelievable looting that has been perpetrated using forex and exchange rates!

21 Likes 2 Shares

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by popsyleo1: 3:45pm On Jan 08
Udo
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Serviceweb: 3:45pm On Jan 08
Serious

1 Like

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by virginboy1(m): 3:45pm On Jan 08
Naija shall be great again. This I believe

2 Likes 1 Share

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by YoungLionken(m): 3:46pm On Jan 08
Just like Buhari did with Dasuki then cool..

Emefiele messed up big time because it really affected BAT's finance winning strategy during the presidential election. BAT and his goons had to quickly redefine another means in rigging the election; an option B strategy that came at a cost (it was too obvious and weak for the masses to see through easily, how the election was rigged) cool...

5 Likes

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by CelestineNelson: 3:46pm On Jan 08
Omo this Political class are the major problem of our Country...Betta Edu, Emiefele, tinubu, etc the guy below might be another potential political criminal who knows
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Bizibi(m): 3:46pm On Jan 08
Was it not the woman that said she moved 44b in 4 days an error?

She get mind oooo
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Peterpaul96: 3:46pm On Jan 08
H
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by worksmart(m): 3:46pm On Jan 08
Emefiele is scapegoat

1 Like

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by fmlala: 3:46pm On Jan 08
Let the poor breath
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Ustec: 3:46pm On Jan 08
Okay
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Toluwanise247(m): 3:47pm On Jan 08
Many hards are dirty in this country especially the rich…… corruption

2 Likes

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Jayboi(m): 3:47pm On Jan 08
My only hope is for us to actually see pple prosecuted. We had the likes of Tafa Balogun and SM Afolabi prosecuted during Obasanjo regime. Let's actually see heads roll. It will give the pple more confidence in this govt.

5 Likes

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Saidfx(m): 3:49pm On Jan 08
Too many loopholes
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Ladech(m): 3:49pm On Jan 08
Nothing will come out of this. Hot air as usual. Naa today?
A member of these current government will do the same and the next government will hunt him for a while and leave him.
How many politician don die for jail?
Islie:
•Inquiry to cover nine-year period

•Suspended NSIPA boss appearing before investigators daily —Source





https://tribuneonlineng.com/emefiele-20-banks-face-probe-over-forex-deals/

1 Like

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Babangidapikin: 3:51pm On Jan 08
Na wa o Probing seasoning ... Hope Telco would probe my lines ... I don't trust my lines o
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Mosba: 3:51pm On Jan 08
Emefiele had to destroy naira just to get too rich, Babangida is a Saint compared to this devil.

4 Likes

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by ecolime(m): 3:56pm On Jan 08
worksmart:
Emefiele is scapegoat
Nigga literally emptied CBN vaults.

Not only that, FX round-tripping was the order of the day. He made his cronies in the financial sector overnight Billionaires at the expense of the nation.

Big companies in the real sector were involved too. They all left production. All they needed to make huge profits was get FX from him to import non-existent goods/services at official rate and then resell at the Black market.

3 Likes

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by 3lami: 3:57pm On Jan 08
They shall reap what the sow.

1 Like

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by inforesource: 3:59pm On Jan 08
If corruption is not dealt with on time, we may not have a country call Nigeria in the nearest future.

2 Likes

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by DMerciful(m): 4:00pm On Jan 08
Exactly same pattern of Bubu's administration.
Remember Dasukigate?
Gbola's govt will be worse than Bubu's givt
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by salbis(m): 4:02pm On Jan 08
Na forex dey pass now in this country.
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by Kcfresh2103(m): 4:06pm On Jan 08
grin How many banks do we have in Nigeria....meaning all the major commercial banks are involve in this Emiefele's saga.
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by kunle75(m): 4:08pm On Jan 08
Islie:
•Inquiry to cover nine-year period

•Suspended NSIPA boss appearing before investigators daily —Source





https://tribuneonlineng.com/emefiele-20-banks-face-probe-over-forex-deals/


Everybody na thief for this country
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by specialmati(m): 4:08pm On Jan 08
grin grin grin grin grin where is buhari in all this.APC party of lengendary thief's with criminals as supporters
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by freemanq(m): 4:09pm On Jan 08
Mr Forex kindly implicate all those that stole our money through you.
Re: Emefiele: 20 Banks Face Probe Over Forex Deals by dikings(m): 4:09pm On Jan 08
virginboy1:
Naija shall be great again. This I believe
Keep been delusional while things keep getting sour. grin

1 Like

Re: Emefiele: 20 Banks Face Probe Over Forex Deals by ppogba: 4:15pm On Jan 08
YoungLionken:
Just like Buhari did with Dasuki then cool..

Emefiele messed up big time because it really affected BAT's finance winning strategy during the presidential election. BAT and his goons had to quickly redefine another means in rigging the election; an option B strategy that came at a cost (it was too obvious and weak for the masses to see through easily, how the election was rigged) cool...

If only you had benefited from the sleaze,.your support for Emefiele and disdain for Tinubu would have been more justified. Perhaps, you will not be wailing in support of what is totally bad on Nairaland.

Try and change this new year.

5 Likes 1 Share

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