Tinubu Vows to Expose Buhari, Says CBN under Former President was Den of Corruption

Tinubu Vows to Expose Buhari, Says CBN under Former President was Den of Corruption

 

President Bola Tinubu has delivered a scathing assessment of the Central Bank of Nigeria (CBN) under his predecessor, former President Muhammadu Buhari, branding it a “den of corruption.”

 

In a bold move, President Tinubu declared his commitment to unveil the extent of this alleged corruption within the apex bank.

 

Former President Muhammadu Buhari’s tenure extended from May 28, 2015, to May 29, 2023, with Godwin Emefiele serving as the Governor of the CBN during that period.

 

“I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway,” stated President Tinubu, signaling his determination to address what he perceives as financial misconduct within the institution.

 

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During his Independence Day speech, President Tinubu announced the appointment of new leadership for the Central Bank and promised to make the findings on the alleged corruption within the CBN public.

 

“A new leadership for the Central Bank has been constituted. Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences,” President Tinubu declared, indicating that the investigative process is already in motion.

This announcement follows President Tinubu’s decision to terminate Godwin Emefiele’s tenure as CBN Governor in June. This decision led to a subsequent probe into Emefiele’s leadership and actions during his tenure.

Notably, Emefiele spent over two months in detention before being granted bail, sparking controversy and criticism over his detention without formal charges.

In a meeting with Nigerians in Diaspora shortly after Emefiele’s dismissal, President Tinubu accused the ousted CBN Governor of presiding over a “rotten financial system” that favored a select few.

“The financial system was rotten. Few people making bags of our money and then you yourself, you stopped sending money home to our poor parents. Several windows. But that is gone now, is gone,” President Tinubu asserted.

Laolu Akande, a member of former President Buhari’s administration and a media aide to former Vice President Yemi Osinbajo, echoed President Tinubu’s sentiments, highlighting what he described as “colossal damages” caused by Emefiele’s dual exchange rate policy.

“His shenanigans and the colossal damages he perpetrated at the CBN were to the utter detriment of the Nigerian people. This is not even about the cashless policy but apparent corruption, especially in the dual exchange rate policy, which never made sense. What a sigh of relief,” Akande commented.

President Tinubu’s commitment to addressing alleged corruption within the CBN underscores his determination to usher in a new era of financial transparency and accountability in Nigeria. The forthcoming findings of the special investigator will likely shed further light on the extent of these alleged irregularities within the apex bank.