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Emefiele Kept £543.4m in Fixed Deposit, Operated 593 Bank Accounts, Manipulated Exchange Rate-Investigator.

Source :
Business Post Nigeria; 12/22/2023, pN.PAG-N.PAG, 1p
Publication Year :
2023

Abstract

Former central bank governor of Nigeria, Godwin Emefiele, has been accused of operating 593 bank accounts in the United States, United Kingdom, and China without authorization from the Central Bank of Nigeria (CBN). An investigator appointed by President Bola Tinubu found that Emefiele and other officials allegedly stole billions of Naira from the CBN's accounts, including a fraudulent cash withdrawal of $6.23 million. The investigator recommended the prosecution of Emefiele and 13 other individuals for financial offenses. The report also revealed fraudulent use of funds, misrepresentation of presidential approval, and manipulation of the Naira exchange rate. [Extracted from the article]

Details

Language :
English
Database :
Complementary Index
Journal :
Business Post Nigeria
Publication Type :
Periodical
Accession number :
177341532