Economists and civil society organizations have voiced their support for President Bola Tinubu’s appointment of a special investigator to look into the Central Bank of Nigeria, Nigerian National Petroleum Corporation Limited, and other Government Business Entities. The move comes after the suspension of CBN Governor Godwin Emefiele, leading to suspicions of infractions or abuse of office by top government officials.
Jim Obazee, the former Chief Executive Officer of the Financial Reporting Council of Nigeria, has been appointed as the Special Investigator and has been directed to collaborate with security and anti-corruption agencies to deliver a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments.
Experts have welcomed the investigation, emphasizing the need for transparency and accountability. The probe will extend to entities such as the Nigerian National Petroleum Company Limited, and its results could restore confidence in the system.
However, concerns have been raised about the potential negative impact on investor confidence due to the open audit of the apex bank. Despite this, President Tinubu’s decision is seen as part of the government’s ongoing fight against corruption.
Civil society groups have also expressed their support for the investigation, urging that any individuals found guilty of looting public funds should be prosecuted and barred from holding public office.
The investigation is expected to shed light on key financial practices and governance issues within these government entities.