President Bola Tinubu made a bold statement on Sunday, vowing to uncover the corruption that plagued the Central Bank of Nigeria (CBN) during his predecessor’s tenure. Former president Muhammadu Buhari’s administration, under Godwin Emefiele’s leadership as CBN governor, was described by Tinubu as a den of corruption.
In his Independence Day speech, President Tinubu announced the appointment of new leadership for the apex bank and expressed his commitment to revealing the extent of corruption within the CBN. He also mentioned that his special investigator would soon present findings on past misconducts and propose measures to prevent similar occurrences.
President Tinubu’s decision to address the issue comes after the dismissal of Mr. Emefiele in June, following an order for an investigation into his leadership as CBN governor. However, the decision to detain Mr. Emefiele without charges faced criticism, leading to his subsequent release on bail.
During a meeting with Nigerians in Diaspora, President Tinubu expressed his concerns about the financial system under Emefiele’s leadership, describing it as rotten and benefiting only a few individuals who made a fortune. He assured the public that actions were being taken against Emefiele and that justice would prevail.
Laolu Akande, a member of the previous administration and media aide to former vice president Yemi Osinbajo, admitted that Emefiele was responsible for reckless looting of Nigeria’s resources through the dual exchange rate policy. Akande emphasized the detrimental effects of Emefiele’s actions on the Nigerian people and expressed relief that the era of corruption was coming to an end.