Bola Tinubu, President Muhammadu Buhari, and former CBN governor Godwin EmefielePresident Bola Tinubu has been advised by the Concerned Northern Forum to proceed with utmost caution over the report that Jim Obazee, the private investigator for the Central Bank of Nigeria (CBN), has provided to him.
The forum noted that certain of Obazee's proposals are disastrous for Nigeria's economic well-being and characterized the probe carried out by Obazee to examine the operations of the nation's top bank under its suspended Governor, Godwin Emefiele, as biased and incomplete.
into December 20, 2023, Obazee—who was appointed special investigator in July 2023—sent the presidency his final report, which was titled "Report of the Special Investigation on CBN and Related Entities (Chargeable Offenses)."
In the report, he said that without the board of directors of the apex bank's and the CBN Investment Committee's consent, the former governor of the Central Bank of Nigeria unlawfully deposited billions of naira in foreign currency in as many as 593 bank accounts in the US, the UK, and China.
The private investigator also claimed that Emefiele established Titan Trust Bank and acquired Union Bank by using certain people as proxies.
However, the northern organization warned in a statement released on Tuesday by its leader, Aliyu Muhammad, that the president needs to trade with extreme caution since it may be as though he is going across a field full of buried land mines while wearing a blindfold.
Muhammad claimed that because of Obazee's past, he was unfit to be in charge of any special probe, particularly one involving money.
"The man hired by President Tinubu is at the center of scandals that involve awarding and procuring contracts to himself using proxies, racketeering, acquiring luxury properties worth billions both at home and abroad that his salary could never justify, and also accused of sexual harassment," the statement reads. "The man was hired by President Tinubu to be the CEO of the Financial Reporting Council of Nigeria (FRC)."
"A well-known and notorious figure who has a long history of scandals and unclean financial and character records is not the right person for this kind of work. Obazee's commitment, professionalism, and patriotism are all called into doubt; his main concerns are his money gains and the unfinished business he went out to resolve. It is Jim Obazee who has to be looked into, not the other way around.
"Jim Obazee has no business investigating the CBN, or any other financial institution for that matter, unless the President is interested in his expertise of personal witch hunts and controversies that can cause chaos." The President should take note of the decision made by his predecessor, former President Muhammadu Buhari, to fire Jim Obazee. Buhari is well-known for his opposition to and hatred of corruption.
"Certainly, CBN needs to be looked at and examined, but not by someone whose ethics and character are in doubt and who has a history of dishonesty, bribery, and misusing public monies.
As a result, President Bola Tinubu should not utilize this study, as both the report's foundation and its creator are compromised. It is biased, incomplete, and some of its suggestions are disastrous for Nigeria's economic stability.