CBN Probe: Style Of Investigation Will Hinder Foreign Investments

Nigerian Professionals and Defenders of Democracy and Good Values, a non-governmental organisation, has warned that the style of investigation of President Bola Ahmed Tinubu’s special investigator of the Central Bank of Nigeria will hinder foreign investments.

The organisation further stated that deliberate media trial and attempts to nullify the National Assembly approval on the means and ways without recourse to the court or reversal by the nation’s highest lawmaking body will only portray the country in bad light.

The association equally described as mischievous and ridiculous , the report of the investigator making the rounds on social media platforms alleging malfeasance by professor Ibrahim Gambari, the immediate past chief of staff to former President Muhammadu Buhari alongside the immediate past finance minister Ahmed Zainab to a tune of N17.3trillion.

In a press conference by the association’s national president, Professor Usman Yaro in Abuja , the group pointed out that the Central Bank of Nigeria vested with the constitutional mandate of monetary policies cannot and should not be seen above the laws and assumed to be without blemish ,”however all matters of corruption and other related forms of malfeasance involving that institution must be handled in the most professional manner that closes all gaps. Investigations into the books of the CBN must be detailed and pass integrity test, the report should be water tight devoid of speculations.”

“The authors of such a report must make it first as classified document, such that when eventually released to the public, it will seek to resolve the issues and provide the way forward. Where people’s names are just dropped without background perspectives will not do the bank, the economy and our investment drive any good,” he said.

The association’s president continued,” the report in the media brandishes a staggering N17.3 trillion and N23 trillion, this is not a small amount of money. And to link a Chief of Staff to the President to such humongous amount is shocking and terrible to the ears. We are not holding forth for Professor Gambari but it is ridiculous that Nigerians seek to destroy some of her best brains who have made the country proud on the international stage and are still doing their best to promote the Nigerian image globally.

“The duties of a Chief of Staff are distinct and if he conveyed approvals, it is important to first understand whose directive he carried out. If the directive was from the President and it was within approval limits why should an investigator release an unsigned document just to indict such public officer and for what purposes.”

The association maintained that investigations of such magnitude should have included inviting all actors and to ascertain what led to what they allegedly did. “The report should explain where the likes of Gambari were invited and their submissions succinctly captured. We therefore call on President Tinubu to be mindful of fifth columnists in his administration as well as those bent on using his administration to fight personal wars by making suggestions that will bring the administration to unnecessary conflict with the National Assembly as well as the judiciary,” he said.