How EFCC Uncovers N70Billion Fraudulently Realised By Emefiele, Others Through Multiple Foreign Exchange Rates

 

Nigeria’s anti-corruption body, the Economic and Financial Crimes Commission has uncovered N70 billion fraudulently realised by the suspended Governor of the Central Bank, Godwin Emefiele in connivance with others.

Report says that the money was raised by the suspended governor of the apex bank and the Sarkin Hausawa of Lagos, Alhaji Aminu Yaro and his wife through a forex differential fraud facilitated by Emefiele.

President Bola Tinubu recently suspended Emefiele from office and he was soon arrested and flown from Lagos to Abuja to face interrogations centred around corruption and abuse of office.

However, it was reported that Emefiele grossly abused the privileges of the office by making quick cash from forex differential fraud with the help of the Sarkin Hausawa of Lagos, Yaro and his wife, who is said to be an employee of the apex bank.

“This is a case of forex differential fraud involving the CBN governor, Godwin Emefiele.

“The governor sells forex to various individuals at the official rate on paper. He has an understanding with the individuals that they will sell at the black market rate when the CBN credits the banks of the individuals that buy the forex.

“When they sell, the difference will be paid into the account of Aminu Yaro on behalf of Emefiele,” one of the sources said.

“So far, about N70 billion has been traced to the account in the course of the investigation.

“The wife of Aminu Yaro is an employee of CBN and a signatory to the company account where the money is paid into. She has also been invited by the EFCC for questioning.

“The case was compromised by the suspended Chairman of the EFCC, Abdulrasheed Bawa because some people close to the seat of power are involved.

“They charge the wife for SCUML (Special Control Unit Against Money Laundry) offences but the main case was left out while the differentials in forex exchange malpractice raised benefits of about N70 billion,” another source said.