₦airaland Forum

Insiders said sixteen directors were relieved of their duties following the implementation of the CBN special investigator’s report, which accused a number of the bank’s staff of conniving with Mr Emefiele to allegedly loot the bank.

Sixteen of the twenty-nine directors heading different units of the Central Bank of Nigeria (CBN) have been disengaged, sources familiar with the operations of the apex bank told PREMIUM TIMES.

Only nine departmental directors are left at the regulatory institution. The most senior deputy directors in affected departments are now in charge.

The disengagement comes in the wake of the implementation of some of the recommendations by Jim Obazee, the special investigator probing the activities of the apex bank under the stewardship of Godwin Emefiele, the embattled ex-governor of the apex bank.

About two hundred other employees of the bank were similarly disengaged but received their terminal benefits in full, according to insiders who asked not to be named because of the sensitive nature of the matter.

The personnel were not accused of wrongdoing but were simply informed that their services were no longer needed, officials said.

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

The specific allegations against the disengaged staff members have not been disclosed, with an official saying some of the officials might be prosecuted by law enforcement agencies.

President Bola Tinubu appointed Mr Obazee last July to investigate the activities of the CBN and other related entities under the leadership of Mr 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.”

He was also said to have invested Nigeria’s money without authorisation 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 of public funds through advances to government otherwise known as Ways and Means” to the tune of N17.37 trillion.

Directors Unit
Muhammed Rakiya Shuaibu, Information technology

Aisha Isa-Olatinwo, Branch operations/FSS2020

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/FSS2020

Eze Paulinus Chinyere ,Financial system strategy/FSS2020

Elizabeth Amos Kwaghe, Currency operations/FSS2020

Chukwurah Maureen Omolola,Medical services/FSS2020

Samuel Chukwuyem Okojere,Banking services/FSS2020

Stanley Arinze A. Procurement and support services/FSS2020

Omayuku Joseph Gbubemi, Governor’s department/FSS2020

Asiegbu Nkiru Eunice, Special duties/FSS2020

Last Wednesday, the Federal High Court in Lagos ordered the forfeiture of a property worth N11.14 billion linked to Mr Emefiele to the Nigerian Government.

The court had earlier in May granted an interim forfeiture of N$4.72 million, N830.9 million and a number of properties linked to him.

Details

The disengaged directors comprised 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) and Efobi Chibuzo Anthony (payments system management).

Others include 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) and Asiegbu Nkiru Eunice (special duties).

Meanwhile, three other directors exited the CBN recently on attaining the retirement age of sixty. They included Clement Oluranti Buari, who was the head of the strategy unit; Mohammed Musa Tumala, head of the monetary policy department as well as Benjamin Nnadi, head of reserve management.

While Mr Buari left in May, both Mr Tumala and Mr Nnadi retired from the bank last month.

The role of the director of the consumer protection department is currently vacant.

https://www.premiumtimesng.com/business/business-news/702829-exclusive-cbn-disengages-16-directors-following-implementation-of-obaze-report.html

The remaining unfortunate 20 directors should be given the efemiewere treatment.........Let them goan join him chop watery beans and akamu in prison.

The purge is good , about the decay in nnpc , .Isn't there any hope of sanitization

'After Implementing Obazee report..."

Thought some clowns said its all ethnic cleansing when CBN started the sacking spree

Those who tend to paint a tribal picture of every neutral reports should be exiled to antarctica till the end of time

They arent fit to live among humans

Any purge in a place like CBN, is very much welcome.

Cardi B on fire

Ehen?
.
No comment

Obaze report, this administration is clueless, na expo Tinubu take bag 1st class for Chicago

Why is Buhari and the minister of Finance not called to question?Can Emiefiele enact or carry out any policy without the tacit approval of the president in a country like Nigeria where we know the CBN is not independent.

dre11:
Insiders said sixteen directors were relieved of their duties following the implementation of the CBN special investigator’s report, which accused a number of the bank’s staff of conniving with Mr Emefiele to allegedly loot the bank.




https://www.premiumtimesng.com/business/business-news/702829-exclusive-cbn-disengages-16-directors-following-implementation-of-obaze-report.html

70% women. Chai!! Nigeria we A D. Meffy, you be Don o😯. 17 trillion? Ahhh!!!

Tomorrow you will hear another story. This tinubu govt with propaganda. Make we clap for the new cbn chief. Tomorrow we will hear about how much you and your collegues steal

dre11:
Insiders said sixteen directors were relieved of their duties following the implementation of the CBN special investigator’s report, which accused a number of the bank’s staff of conniving with Mr Emefiele to allegedly loot the bank.




https://www.premiumtimesng.com/business/business-news/702829-exclusive-cbn-disengages-16-directors-following-implementation-of-obaze-report.html

Kadoso Michael aka seunmsg.............sorry Yemi. You're doing well. Sack all the sackables. I'm beginning to change my mind concerning the other Kadoso. He is busy chasing Finidi everywhere.

A welcome development

onadana:
Why is Buhari and the minister of Finance not called to question?Can Emiefiele enact or carry out any policy without the tacit approval of the president in a country like Nigeria where we know the CBN is not independent.

We all know why

Kekwodi

Kekwodi
Ona mabia

Kekwodi
Ona mabia
I sight the eagle heads

Ebi ń pawa

dre11:
Insiders said sixteen directors were relieved of their duties following the implementation of the CBN special investigator’s report, which accused a number of the bank’s staff of conniving with Mr Emefiele to allegedly loot the bank.




https://www.premiumtimesng.com/business/business-news/702829-exclusive-cbn-disengages-16-directors-following-implementation-of-obaze-report.html

While Mr Buari left in May, both Mr Tumala and Mr Nnadi retired from the bank last month.
Last month is May

It’s not about the sacking. Has the exchange rate improved?

Ethnic agenda. They will replace them with bolanles and olatunjis

This is ethnic cleansing . How is that SE has 8 out of the 16 sacked directors.

The CBN this Governor met on ground don't deserve this sort of clear out. These guys supervised a banking industry that is very vibrant, they presided over a payment system that is the best in the world. From the comfort of your bedroom, you can complete virtually any sort of banking transaction electronically. This some take for granted but such efficient payment system is not available in many countries I can tell from experience

There might be some really bad eggs that needed to be removed but those guys don't deserve this sort of clear out.

When will all the sacking impact positively on the value of the naira

This is a mischievous act by the government. It's either you fully implement the report or you don't!

They want to implement the report only where it is comfortable to them. Cause tell me why the president has the highest number of Ministers since the independence of this country?

Why can't he also implement the report by reducing the number of Ministers?

kettykin:
The purge is good , about the decay in nnpc , .Isn't there any hope of sanitization

That place is a stronghold. The most corrupt and dangerous Northern cabals are holding sway there. It will take a really mad president to scatter that nest and burn the bridge. They are chooking eyes there o.

Haha good luck to find competent replacements. I forgot this government has competence really low on its list

kenex4ever:
Ethnic agenda. They will replace them with bolanles and olatunjis

It just goes to show the kind of person you are, that you're not concerned about the pilferage of almost 18 trillion Naira. And from the names I have seen, it cut across like 5 ethnic groups with the SE and North having the majority. I guess the leading ethnic groups won the Greed Quotient (GQ).

Running the cbn like it's mc oluomo motor park

onadana:
Why is Buhari and the minister of Finance not called to question?Can Emiefiele enact or carry out any policy without the tacit approval of the president in a country like Nigeria where we know the CBN is not independent.

When Dasuki was being tried, why didn't you ask for Jonathan to be tried too?

omoredia:
Running the cbn like it's mc oluomo motor park

kingsways:
This is ethnic cleansing

kenex4ever:
Ethnic agenda. They will replace them with bolanles and olatunjis

Una go cry taya. Useless people.
I hope that by the time they start prosecuting these ones, they will tell the court that they stole because they were Igbos.