Tinubu reviews document as CBN investigator submits interim report

The Internal Audit Report of the Central Bank of Nigeria’s investigation will soon be made public, according to George Akume, Secretary to the Government of the Federation.

Former Financial Reporting Council of Nigeria CEO Jim Obazee was appointed Special Investigator for the CBN by President Bola Tinubu on July 28, 2023.

A report directly to the President’s Office was included in the President’s request for the special investigator to look into the CBN and other important government business entities.

When the CBN’s investigation report is out, the SGF said on Monday, it will demonstrate how the nation’s current state of affairs was caused by inadequate leadership.

During a press conference in Abuja on the 63rd anniversary of Nigeria’s independence, Akume disclosed this information while taking questions.

As per his statement, Nigerians will be able to understand the true cause of the country’s current predicament and how it came to be.

“Many of the issues we face are the result of poor governance,” he declared. Challenges have been faced and will continue to be faced by the current administration. As soon as he joined the CBN, President Bola Tinubu made an extremely wise choice. As specialists have informed us, nothing like this has occurred in the previous 15 years in terms of the capital market’s improvement as a result of that one act.

With the release of the special investigator’s report, which has been in the CBN for some time, Nigerians will finally know what went wrong and how we ended up where we are. We have a new team at the CBN.

To ensure that the investigation uncovered government funds in the hands of private individuals, Tinubu had urged Obazee in a letter dated July 28, 2023.

“In accordance with the fundamental objective set forth in Section 15(5) of the Federal Republic of Nigeria 1999 (as amended), this administration is, today, continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities,” is part of the letter that was addressed to the special investigator. Effective immediately, you will be reporting directly to my office, per this appointment.

Obazee, however, had sent an interim report to the President’s office more than a week prior, according to information obtained by The PUNCH on Monday.

According to several authorities, the President submitted the preliminary report so that it might be used that basis.

It has been more than a week since the CBN Special Investigator gave the President’s Office a preliminary report. Unauthorized to speak, a top official with knowledge of the development spoke to The PUNCH on condition of anonymity. “The investigation is still ongoing, but the preliminary report is meant to give the President an idea of what has been discovered so far,” the official said.

The president would be able to make some crucial choices that would aid in the nation’s progress thanks to the interim report, it was learned.

However, as of the time of publication, this claim could not be independently corroborated. According to officials, the interim report was the catalyst for the CBN’s leadership transition last week.

With the intention of making a judgment on it as quickly as possible, the president and his team are reportedly examining the report at the moment.

The recently disclosed CBN annual financial reports were perceived to have been criticized by the special investigator for the CBN.

The CBN may be asked to retract its audited yearly financial reports as a result, it was discovered.

As part of an ongoing investigation into the financial services industry regulator by a Special Investigator chosen by President Bola Tinubu, the CBN disclosed its financial statements for the years 2016 to 2022 in August.

Regarding autonomy, SGF

Nigeria’s 63rd independence anniversary is set for October 1. The SGF announced on Monday that no world leaders had been invited, citing the decision as being made in accordance with the country’s preference for a low-key commemoration.

He declared, “Whether or not we’re performing poorly has no bearing on our low-key celebration. Our family is experiencing difficult financial circumstances, as well as those that affect the country. International leaders have not been invited. 53 foreign leaders were invited to the President’s inauguration; therefore, we have not extended an invitation to any other countries.

This 63rd anniversary will be low-key in keeping with the current economic realities, as you are aware, per the President’s approval. The anniversary’s theme is “Nigeria @ 63, Renewed Hope for Unity & Prosperity.”

It is our shared goal to live as a peaceful, wealthy, and united nation in spite of our diversity, he remarked, speaking on behalf of the nation. No country can progress without these. Our national interest is protected by the government.

He claimed that since 1999 there has been no interruption in democratic governance and that the peaceful, orderly, and smooth presidential transition process from one administration to another makes the celebration especially meaningful at this time.

As the best form of administration, Nigerians have fully accepted democracy with its basic ideals and practices, the SGF declared, notwithstanding political tremors and a wave of coups in some areas of the ECOWAS sub-region. Citizens in a democracy have the ability to actively participate in national affairs through election institutions and procedures.

A representative democracy fosters a symbiotic relationship between the people and their government, with the former providing security and the latter advancing and safeguarding the interests of the latter.

In addition to the effects of the worldwide economic slump, the administration is fully aware of the financial difficulties that Nigerians face since the fuel subsidy was removed. Among other things, the government is working tirelessly to supply buses to alleviate the strain of transportation and the required palliatives to lessen such obstacles. Meanwhile, the government is interacting with labor to address issues that are important to the welfare of Nigerians in general and workers in particular.

At the State House Conference Center on Thursday, September 28, 2023, at 10 a.m., there was an anniversary symposium and public lecture scheduled. On Friday, September 29, 2023, there was a lecture at the National Mosque Conference Center at 10 a.m., and at 1 p.m., there was a Juma’at prayer held at the National Mosque.

A military parade is scheduled for Monday, October 2, 2023, at the Presidential Villa, at 9 a.m. Akume also announced a presidential broadcast on Sunday, October 12023 at 7 a.m., an interdenominational church service at the National Christian Center on Sunday, October 1, 2023, and these events.

We need to turn this country into the land of our dreams, so I’m calling on you, media professionals and patriots, to stand with this administration and create practical alliances. Furthermore, I rely on you to promote the events planned to commemorate Nigeria’s 63rd year of independence,” he asserted.