Tinubu looks at the document as CBN investigator submits an interim report

The Federal Government will soon release the audit report of the investigation into the Central Bank of Nigeria, according to George Akume, Secretary to the Government of the Federation.

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

The special investigator would submit a direct report to the President’s Office, the President added, and was tasked with looking into the CBN and other significant government business entities.

When the CBN investigation report is made public, the SGF asserted on Monday, it will show how bad governance contributed to the nation’s current situation.

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

He asserts that the report will make Nigerians aware of the true causes of the country’s problems and how it came to be in the state it is in today.

The majority of the issues we are currently facing are the result of poor governance, he claimed. These difficulties are being and have been faced by the current administration. Upon joining the CBN, President Bola Tinubu made a wise choice. According to analysts, this was a one-of-a-kind event that has never occurred in the previous 15 years and caused a significant improvement in the capital market.

A special investigator has been working with the CBN for some time; his findings will soon be made public, allowing Nigerians to understand what exactly went wrong and what led to where we are now.

In a letter dated July 28, 2023, Tinubu instructed Obazee to see to it that the investigation revealed government funds in the possession of private individuals.

This administration is currently continuing the fight against corruption by appointing you as a Special Investigator, to investigate the CBN and Related Entities, in accordance with the fundamental objective stated in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended). You need to come into my office right away for this appointment, which will start right away.

A recent release of the CBN’s annual financial reports was reportedly criticised by the special investigator for the CBN.

It was discovered as a result that the CBN might be requested to rescind its yearly financial reports that have been audited.

In the midst of a Special Investigator investigation of the financial services industry regulator led by President Bola Tinubu’s appointment, the CBN released its financial reports for the years 2016 to 2022 in August.

Independent SGF

As for the 63rd anniversary of Nigeria’s independence, which is set on October 1, the SGF announced on Monday that no world leaders had been invited. It claimed that this was done in keeping with the country’s preference for a low-key celebration.

Low-key celebrating has nothing to do with whether we’re doing well, he remarked. Times are tough economically, and we’re considering it from a family as well as a national one. International leaders have not been invited. There were 53 invited international leaders to the President’s inauguration; we have not extended an invitation to any world leaders.

You are aware that the President has granted his consent for this 63rd anniversary to be low-key in order to reflect the current economic circumstances. The celebration’s slogan is “Nigeria @ 63, Renewed Hope for Unity & Prosperity.”

In his remarks on matters of national importance, he stated, “We have all agreed to live in a united peaceful, united, and successful country, notwithstanding our differences. No country can progress without these. Our national interests are not compromised, thanks to government protection.

He claims that now is a particularly important time to celebrate because there has been a continuous democratic record since 1999 and a smooth, successful, and peaceful presidential transition process.

According to the SGF, “Despite political earthquakes and a wave of coups in various areas of the ECOWAS sub-region, Nigerians have firmly accepted democracy with its fundamental ideals and practises as the best form of administration. Citizens have the chance to successfully engage in the affairs of their nation through democratic institutions and procedures.

“The relationship between the people and the government under a representative democracy is symbiotic: while the citizens support the government, the government offers security, protects their interests, and does so.

“The government is fully aware of the financial difficulties Nigerians are experiencing as a result of the elimination of the fuel subsidy as well as the effects of the global economic slump. The government is putting up a lot of effort to give the required palliatives in order to lessen these difficulties. They are also working hard to provide buses in order to lessen the burden on transportation, among other things. The government is conversing with the labour movement at the same time to address issues that are relevant to the welfare of all Nigerian workers as well as Nigerians in general.