Tinubu, CBN Probe And Machinations Of Mischief Makers, By Gidado Ibrahim 

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The needless hue and cries that followed President Bola Ahmed Tinubu’s directive for a thorough forensic audit of the Central Bank of Nigeria (CBN) and other related entities, as well as the subsequent appointment of a forensic expert, Jim Obaze, as a Special Investigator, climaxed the mindless machinations of a microscopic group that thinks Nigeria should continue to be held-down like cow for them to milk.

Come to think of it, What institution of government should be left without a check? Accountability is unarguably one of the hallmarks of any public institution, not to talk of a strategic department of government like the Central Bank, thrusted with the all-important task of printing, issuing and managing national currency that should be left without probe?

The current legal framework within which the CBN operates is the CBN Act of 2007 which repealed the CBN Act of 1991 and all its amendments. It has internal structures responsible for audit at every three months. That said, if the law that establishes the CBN saw the need for a quarterly audit, what’s wrong with the president ordering a probe when the activities of a governor of the bank becomes questionable?

We were all here in the build-up to the general election when the suspended governor of the bank, Godwin Emefiele, ran the bank like amok or a personal estate. After the turmoil that trailed the naira redesign whose operations was shrouded in secrecy and influenced by mindless and greedy cabals, it is only fair that the financial books of the bank be scrutinised.

Conversely, how high a skyscraper can go depends on the integrity of its foundation. The President Bola Ahmed Tinubu’s administration is just two months old. It is only proper to scrutinise the health of the bank and also to reform and fine-tune its operations to align with the policies and programmes of the Renewed Hope government. Is that too much to ask?

Needless to remind these agents of evil conspiracies that in presidential democracy, the buck stops on the president’s table. If the administration succeeds, the people enjoys but if it fails, the president alone takes the blame.

Since Tinubu announced Obazee’s appointment, all hell has been let loosed. These enemies of Nigeria have lost their sleep and peace because their fingers are soiled with plundering of our common patrimony.

The following terms of reference of the forensic audit exercise is noteworthy. President Tinubu specifically directed Obazee to take immediate steps in ensuring the strengthening and probity of key Government Business Entities (GBEs) and block leakages in the CBN and related GBEs.

He also directed the special investigator to provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments (whether private or public).

Also, the president directed Obazee to investigate the CBN and related entities using a suitably experienced, competent and capable team and to work with relevant security and anti-corruption agencies to deliver on the assignment.

The foregoing is the reason they’re backing like dogs and roaring like lions. Knowing the pedigree and the integrity of Jim Obazee, they know that their time is up. They know that the days they’ll be held into account is near. They have just realised that with Tinubu, it is no longer business as usual. Gone are the days government appointees flaunt larger than life lifestyle without accountability. Gone are the days when government officials pilfer public tilt with reckless abandon. Those who have dipped their fingers in government voulte are now jittery, knowing that they’ll soon have their day to face the law.

These explains why, like lion that demonstrates its dominance of the jungle by roaring, these merchants of mischief brew, employ and deploys all manner of gimmicks to truncate the initiative that promotes common interest but runs contrary to their unfettered appetite.

Except that they have vowed to remained enemies of Nigeria, if not, the step the president has taken is worthy all our commendation. In appointing Obazee, Tinubu relied on the fundamental objective set forth in Section 15(5) of the Nigerian constitution, and also in furtherance of his administration’s anti-corruption fight. Should this not be celebrated? Instead of giving the president kudos for his bold, courageous and patriotic initiative to salvage Nigeria, they’re mobilising the media and whipping up public sentiment against the new administration.

In order to discredit the exercise, with their looted money, they have heavily mobilised their henchmen in the media and mushroom civil society groups who have since unleashed heavy campaign of calumny against the president and Jim Obazee.

They have started cooking and dishing out lies with which they hope to whip up public sentiment against the Tinubu-led government. Let it be known to them that President Tinubu is not a coward that will allowed corrupt political cabals to make Nigeria lawless. The identity of those behind these charades are not far-fetched. They’re those who have fraudulently accumulated public funds and wealth. They’re regrouping under the guise of strong supporters to serve under the incumbent administration. The president should be weary of their antics.

To their shame and dismay, Obazee who was the former chief executive officer of the Financial Reporting Council of Nigeria (FRCN) has come out clean on the whole of their lies and falsehoods. To demonstrate the importance President Tinubu attaches to this exercise, he has ordered that Obazee reports to him directly and submit progress reports on weekly basis.

Experts and analysts of good motives have applauded President Tinubu for appointing Obazee. He is a fearless and credible man with proven track records of excellence in service who believes that anything worth doing is worth doing well.

Meanwhile, as the Chief Executive Officer of the Financial Reporting Council, Obazee was responsible for setting, monitoring and enforcing financial reporting standards and Corporate Governance Practices in both public and private sectors of the economy. He was removed by former President Muhammadu Buhari in 2017 for the most courageous and brave act. Despite the fact that he was misunderstood then because we hate to do the rights, this appointment has vindicated him.

Obazee, a graduate of accounting from the University of Benin with a Master’s degree in the same course from the University of Lagos, is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). His effort to ensure compliance with a corporate governance code of the FRC stipulating 20 years for heads of not-for-profit organisations controversially forced the General Overseer of the Redeemed Christian Church of God (RCCG) to step-down in 2017. That’s the character of Obaze. He specialises in courage under fire. That’s what earned him the confidence of Mr President and goodwill of Nigerians.

I want to conclude by saying that power belongs to God alone and He gives it to whoever He pleases. Power is as old as creation.The first expression of power was by Almighty God when He created the heavens and the earth (Genesis chapter 1 vs 1, 2). Similarly, the Qu’ran states that Almighty Allah created the heavens and the earth and all that is in them (7:54). In view of the foregoing, it is clear that these people don’t have the fear of God in them.


I will urge the special investigator of the president not to allow the propaganda of the political cabal to deter him from hunting the looters. He should take a cue from the United States where President Biden made sure that Trump, who is his predecessor, is investigated, indicted and charged with crimes that Biden’s own Justice Department is prosecuting. President Tinubu has toed the same steps and Nigerians are waiting anxiously to witness an excellent forensic investigation into the financial transactions of all arms of government and subsequent prosecution of culprits.


Those misleading Nigerians by overheating the polity just because they have enough looted funds at their disposal are wasting their time. Their machinations will fail and President Tiunubu will succeed in implementing his Renewed Hope agenda, which he has started by ensuring he weeds out the bad eggs from government. The country will be repositioned to work for the benefit all.

– Ibrahim is director, Communication and Strategic Planning, of the Presidential Support Committee (PSC).


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