Just in: Emefiele Returns ₦4 Trillion, Six Banks as Massive Loot Uncovered

The former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is reported to have returned a staggering ₦4 trillion to the federal government  funds allegedly misappropriated during his tenure. A source close to the investigations also says that Emefiele surrendered ownership stakes in six banks tied to him.

Meanwhile, the source claims that former CBN Deputy Governor Tunde Lemo refunded US $500 million in taxpayers’ money. In a further startling discovery, investigators reportedly found US $275 million in an account belonging to the six-year-old son of Sabiu Yusuf (aka “Tunde”), a personal assistant to ex-President Muhammadu Buhari. On top of that, another ₦1.5 trillion was traced to Yusuf’s personal bank account.

According to the source: “The special investigator Jim Osayande Obazee and his committee uncovered US $275 million in a new-generation bank account tied to the six-year-old son of Sabiu Yusuf. They also linked ₦1.5 trillion to Yusuf himself, a highly influential figure in Buhari’s government.” The source added that President Bola Ahmed Tinubu is reportedly engaged with prominent Nigerians behind the scenes, working to secure repayment of the funds without public disclosure.

Only recently, the National Security Adviser Nuhu Ribadu lamented that the Tinubu administration had inherited a financially broken country from the Buhari era, owing to widespread looting.

It is recalled that President Tinubu tasked Osayande Obazee with heading a special probe into the CBN’s operations under Emefiele and associated entities. To date, the committee claims to have recovered over ₦12 trillion mostly from individuals linked to the previous administration. The source further alleged that the committee has rejected numerous multi-million-dollar bribery offers.