Security Agents Asked To Arrest CBN Governor Emefiele Over Missing $2.5bn - Uju Ayalogu's Blog for News, Reviews, Articles and More

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Saturday 11 May 2019

Security Agents Asked To Arrest CBN Governor Emefiele Over Missing $2.5bn

Security Agents Asked To Arrest CBN Governor Emefiele Over Missing $2.5bn

The Governor of Central Bank of Nigeria, Godwin Emefiele has been asked to explain how over 2.5 billion USD allegedly missed under his watch between 2015 and 2019, and subsequently remit the funds to the Treasury Single Account (TSA) within seven working days.

The Whistleblowers Network, under the chairmanship of Dr George Uboh, in a statement made available to journalists in Abuja, called on security agents to arrest Emefiele if he fails to remit the funds before the ultimatum expires.

Uboh alleged that the CBN under the watch of Mr Emefiele conspired with NNPC to divert $24,263,008.56 USD in 2015, money he claimed was expected to be shared through FAAC in January 2016 to the three tiers of government.

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He also alleged that the apex bank boss in 2017 alone, under his watch under-declared and under-remitted $760,000,000:00 USD exchange gains which accrued from BDCs to Federation account through Lagos, Kano, Abuja and Awka.

He further accused the governor of shunning TSA policy as rolled out by President Muhammadu Buhari in 2015.

He added that they (Whistle-blowers) are interested in how funds generated by Federal Government are being expended at MDAs pursuant to the Fiscal Responsibility Act, 2007.

“We are a Non-Governmental and Civil Society Organization interested in the way and manner Federal Government funds are being expended at MDAs pursuant to the Fiscal Responsibility Act, 2007.

“We are calling on Nigerians on the homeland and in the Diaspora to ask Emefiele to account for and return $2.5 Billion USD to Treasury Single Account in line with President Buhari’s TSA policy rolled out in 2015, and security agencies to arrest Emefiele within 72 hrs,” he said.

Uboh disclosed that he had written to Emefiele several times to explain and disclose to public how the money disappeared but failed to act, saying he did that in the interest of the public and whistleblowers within and beyond the CBN who have furnished his organisation germane information.

According to him, the CBN under Emefiele’s watch in collusion with NNPC denied the three tiers of government revenue from crude oil and gas from May 2015 to June 2016 (14 months), but diverted over $1.78 billion USD through fake accounts.

He explained further, “On Wednesday, April 3, 2019, I, Dr. George Uboh, the undersigned, in my capacity as Chairman George Uboh Whistleblowers Network (hereinafter GUWN), wrote Godwin Emefiele a letter with reference no. GUWN/CBNEMEFIELE/030419/01, captioned: “REQUEST TO REMIT OVER $2,564,000,000FEDERAL GOVERNMENT FUNDS MISSING UNDER YOUR WATCH TO TSA”.

“The aggregate of the above funds missing under your watch in a fraudulent manner is over $2,564,000,000 USD.” I asked Emefiele to remit the funds to TSA in 7 days.”

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