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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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seyi jelili
February 16, 2017 at 8:49 am
It is high time emefiele is relieved of his office, he does not even understand the economy talk more of our monetary policies. We need vibrant people like soludo or Sanusi
Balarabe musa
February 16, 2017 at 10:33 am
Emir Sanusi remains the best CBN governor Nigeria ever had. Igbos are not fit to govern the Central Bank became of their mischievous ways.
Joy Madu
February 17, 2017 at 5:05 am
Keep quite what is your problem what has tribe gut to do with this or are you just looking for what to write because i can see that you lost your senses like sanusi your mentor
Omotola Olugbenro
February 18, 2017 at 9:04 am
Why can’t we all pray for God’s direction for this man, and stop every form of allegations. There is nothing impossible for our God.
JOHNSON PETER
February 16, 2017 at 9:01 am
I knew this man is the cause of our economic woes especially issue of rising dollar against naira. The man has some percentage from bureau de change for dollar transaction that is why he has refused commercial banks from selling dollar directly to the public at the real exchange rate. Emefiele must go, bureau de change must be scrapped .
Animashaun Ayodeji
February 16, 2017 at 10:39 am
As at this morning, 510 Naira was chasing one dollar in what we can call the latest Dollar to Naira exchange rate, Emefiele needs to be probe, not only for his policies, but for corruption. Why are we having too many Naira chasing dollar? There must be some hiding agendas the CBN governor is planning
Roland Uchendu Pele
February 16, 2017 at 3:51 pm
I do not think the dollar rate is exclusively the fault of Emefiele. He isn’t the only person making policies affecting the naira. If we want probe, we must probe all the key actors in the Finance sector.
Margret Dickson
February 16, 2017 at 10:45 am
It took the federal government too long to realize Emefiele is too weak to be the CBN Governor, since Nigeria’s economy started suffering from his forex polices, I knew the portfolio given to him was bigger than him