Party disrupted as DSS detains top CBN director, according to Godwin Emefiele

Sep 16, 2023 | International | 0 comments

Business Day reported that the retiring director was arrested for his role in the reviewed CBN seven-year accounts. The published report was accused of violating accounting and reporting standards.
Jim Obazee, President Bola Tinubu’s special investigator, arrested and questioned the CBN’s newly retired director and other top officials.

Fakunle was arrested at his retirement party in Abuja on Wednesday, September 13.

Why did DSS arrest the CBN finance director?
The former director was asked why the accounting guidelines deviated from the International Financial Reporting Standards (IFRS). CBN accounts were prepared using such.

He was also expected to explain why the document was allegedly paid for with N401 million, violating Financial Reporting Council of Nigeria rules.

In late July, President Tinubu appointed an Obazee-led special panel to investigate the apex bank after Godwin Emefiele, the suspended CBN Governor, was arrested and prosecuted for a financial offence.

“For eight years, we’re living on a fake lifestyle”: Sanusi’s Tinubu-Buhari comparison.
Muhammadu Sanusi, former Emir of Kano State and grand Khalifa of Tijjaniyah, blamed former President Muhammadu Buhari for Nigeria’s economic woes.

Former CBN governor Sanusi said no economic expert with monetary policy knowledge would criticise President Bola Tinubu.

The economist said President Buhari ignored his advice to save Nigeria before the economic crisis.

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