CBN governor, Emefiele, may face probe over alleged Forex racketeering

CBN governor, Emefiele, may face probe over alleged Forex racketeering

Arising from petitions that have flooded the office of Abubakar Malami, Attorney General of the Federation (AGF), the presidency may seek special probe of Forex dealings at the CBN which is under the supervision of Godwin Emefiele.

Ripples Nigeria gathered Wednesday that Malami has already invited the CBN governor to address some of the issues raised in the several petitions sent to his office.

These include , among others, alleged corruption in “foreign exchange allocation transactions,” “questionable policy” in the allocation and sale of Forex, “arbitrary allotment of different exchange rates for same purposes,” and allocation of “conflicting Forex rates.”

Emefiele was advised to respond to these allegations which the office of the AGF claimed were backed by some supporting documents.

Malami’s memo to the CBN governor was dated February 6, 2017 and marked HAGF/CBN/2017/VOL.1/1. Titled, “allegations of racketeering in the Central Bank of Nigeria; disparity in allocation of foreign exchange’, the memo directed as follows:

That “…In view of these allegations of corruption and arbitrary allocations of foreign exchange to a certain class of persons, you are kindly requested to comment on these allegations to enable us to advise the Presidency and take appropriate measures as may be dictated by the circumstances of the case.”

Emefiele has recently come under intense pressure, with key stakeholders questioning his competencies and subtly canvassing his sack from President Muhammadu Buhari’s cabinet.

In response, the CBN governor had maintained that policy initiatives by the CBN were totally devoid of sentiments and informed by sound financial judgments.

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