Emefiele: 20 banks face probe over forex deals

* Inquiry to cover nine-year period

* Suspended NSIPA boss appearing before investigators daily — Source

The probe instituted by the Economic and Financial Crimes Commission (EFCC) into the use of foreign exchange by some companies and financial institutions under the former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele is to be spread to at least 20 banks, sources close to the commission have said.

Nigerian Tribune was reliably told at the weekend that the probe, which has seen operatives storm corporate offices of Dangote Group and some others would be extended to at least 20 commercial banks, while some merchant banks would also be investigated.

The source said that the investigation would span at least nine years, adding that commercial banks, merchant banks and some other companies are being investigated.

I cannot say how the media got the figure of 52 companies, but they are quite a number. This is a general investigation on the use of foreign exchange in nearly the past nine years and it is not an isolated case targeted at a particular company,” a source said, adding that a whole lot of issues are being looked and the issue of forex is ringing bell because of its implication for the national economy.”

The source also added that the EFCC was looking into allocation of foreign exchange to friends and associates of Emefiele by the former CBN governor.

Another source said that the EFCC got Emefiele released to it by the Department of State Services (DSS) in October and since then a lot of investigations have gone into his activities at the helm of affairs at the CBN, adding that what is ongoing is an all-encompassing investigation into the roles of banks and financial institutions as well as heavy forex users around the time in question.

A source close to the development, however, said that the paucity of information of the matter so far was as a result of the need for the EFCC to avoid being accused of media trial and that the commission was carefully perusing all documents needed to make conclusive deductions.

“What is happening is a general investigation into forex allocations under Emefiele. It is not intended to embarrass any corporation or agency,” a source close to the commission said.

“Concerning the ongoing probe of the former Minister of Humanitarian Affairs, HajiaSadiya Umar-Farouk, who is being investigated over alleged N37 billion fraud, a source said that the former minister may be given a deadline to appear before the commission this week.

The former minister had failed to appear before the commission all through last week on indications that she was suffering from illness.

A source who spoke on the suspended Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), Hajia Halima Shehu said that the suspended CEO has been cooperating with investigators and that she has been appearing before investigators since last week.

A source close to the development told the Nigerian Tribune: “I can confirm to you that Halima, CEO of NSIPA has been appearing before investigators. She resumes in the morning and closes at the end of the day. That should continue this week until investigators are satisfied. As for Umar-Farouk, the commission may have to come hard on this suspect because she has not appeared at all. A day will be set for her appearance.”

4 thoughts on “Emefiele: 20 banks face probe over forex deals

  • First of all I would like to say awesome blog! I had
    a quick question in which I’d like to ask if you don’t mind.
    I was curious to know how you center yourself and clear your thoughts
    prior to writing. I’ve had a hard time clearing my mind in getting my thoughts out there.
    I do enjoy writing however it just seems
    like the first 10 to 15 minutes are generally
    wasted simply just trying to figure out how to begin. Any
    ideas or hints? Cheers!

    Feel free to visit my blog post – eharmony special coupon code 2024

  • What i don’t realize is in reality how you’re not actually
    much more neatly-favored than you may be right now.
    You are so intelligent. You understand thus considerably in terms of this matter, made me personally imagine
    it from numerous numerous angles. Its like women and men aren’t interested
    unless it’s one thing to accomplish with Woman gaga! Your personal stuffs excellent.

    At all times care for it up!

    Also visit my webpage; vpn special coupon

  • I got this website from my friend who shared with me concerning
    this web page and now this time I am browsing this web site and reading very informative posts at this place.

    Visit my web page; vpn coupon 2024


Leave a Reply

Your email address will not be published. Required fields are marked *