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“Economists and groups urge Tinubu’s special investigator to unravel the CBN, NNPC debacle.”
Economists and civil society organisations are rallying behind President Bola Tinubu’s decision to assign a special investigator to scrutinise the Central Bank of Nigeria, Nigerian National Petroleum Corporation Limited, and other Government Business Entities.
There are concerns of potential wrongdoings or purported office misuse by the suspended CBN Governor, Godwin Emefiele, and other senior government officials, which the investigation seeks to address. This announcement follows Tinubu’s selection of Jim Obazee, the former CEO of the Financial Reporting Council of Nigeria, to act as the Special Investigator for the case.
Tinubu’s directive to Obazee, as seen in a letter reviewed by The PUNCH, is to collaborate with security and anti-corruption bodies to generate a comprehensive report on public wealth held by potentially corrupt individuals or institutions, both private and public.
The investigation, which is immediate and requires weekly updates to the President, will extend to other GBEs such as the Nigerian National Petroleum Corporation Limited and the FRCN.
This step was taken shortly after Emefiele was taken to court for unlawful possession of firearms. Though initially granted bail, he was subsequently re-arrested by the Department of State Services.
In the personally signed letter dated July 28, 2023, Tinubu emphasised that this action signifies a continuation of the government’s war on corruption. The directive also included a copy of his previous order suspending Godwin Emefiele as the Governor of the CBN on June 9, 2023.
The experts and groups underlined the importance of this investigation to confirm any possible violations or abuse of office by the suspended CBN Governor, Godwin Emefiele.
Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, affirms the necessity of the investigation to determine if there have been any irregularities or misuse of office. Yusuf suggests a forensic audit to uncover any potential abuses.
Professor Sheriffdeen Tella, an Economics professor at Olabisi Onabanjo University, and Professor Bright Eregha from the School of Management and Social Sciences, Pan-Atlantic University, also support the investigation. They agree that such inquiries are crucial for ensuring transparency, accountability, and adherence to corporate etiquette. Eregha speculates that the Federal Government ordered the probe because they were not satisfied with the central bank’s performance or its adherence to its mandate.
However, Professor Akpan Ekpo, Chairman of the Foundation for Economic Research and Training, expresses concerns about the potential negative impact of the audit on foreign investors. He argues that openly auditing the central bank may cause foreign investors to question the stability of the country’s financial system. Regarding the choice of special investigator, Ekpo wishes a completely neutral individual had been chosen.
Debo Adeniran, Chairman of the Centre for Anti-Corruption and Open Leadership, believes the investigation should delve into the suspended CBN governor’s monetary policy and the legality of the naira note redesign. If any political motives are discovered, Adeniran argues, the former governor should face charges for crimes against humanity.
The Executive Chairman of the Civil Society Legislative Advocacy Centre commends the effort to recover looted funds and urges the administration to ban anyone found guilty of stealing public funds from holding public offices. He stresses that the probe should be carried out without political bias or attempts to cover up any wrongdoing.
News
‘Ombugadu Is a Brand, Not a Title’ — PDP Chieftain
By Emmanuel Kuza
A chieftain of the Peoples Democratic Party (PDP) in Nasarawa State, Abuga Ovie, has described the name Ombugadu as a political brand, saying the popularity and wide acceptance of the name have made David Emmanuel Ombugadu a major force in the state’s political landscape.
Ovie, who stated this in an interview on Tuesday, said what started as opposition from some of Ombugadu’s biological brothers and people he described as fathers and uncles who betrayed him for personal political interests had now assumed a wider dimension, with political parties allegedly joining the battle against him.
According to him, the latest development was an attempt to undermine the political value of the Ombugadu name by presenting another person with the same surname, describing it as an indication of how far some political actors were prepared to go to weaken the PDP governorship candidate.
“Ombugadu is a brand, not a title. The people are not fools. They know their own. You cannot simply bring another person bearing the same name and expect the people to forget the political identity that Ombugadu has built over the years,” he said.
He further alleged that a former governor was working to introduce a political associate who had served as Accountant-General of Nasarawa State into the political equation, with the alleged objective of destabilising the PDP and weakening its chances by ensuring that the party fields a less competitive candidate in 2027.
“The plan, as we understand it, is to destabilise the PDP and make sure the party presents a weak candidate, thereby creating an advantage for the former governor’s preferred candidate. But all those efforts have proved abortive because the national leadership of the PDP stood its ground and refused to lose its best bet for the 2027 governorship election,” Ovie said.
The PDP chieftain said the resolve of the national leadership to retain Ombugadu had demonstrated the confidence the party had in his capacity to win the governorship election, despite what he described as attempts by some political actors to frustrate his ambition.
Ovie urged political parties and their leaders to resolve their internal differences instead of concentrating their efforts on Ombugadu, whom he compared to David in the Bible, saying he remained focused despite betrayal and opposition from those close to him.
“Ombugadu is like David in the Bible. Even when his brothers forsook him, he remained focused. Today, despite the people who have betrayed him, he remains focused and has a blueprint that can rescue Nasarawa State,” he said.
He said political parties should concentrate on presenting their programmes and convincing voters about how they intend to address the challenges confronting the state rather than expending their energy on attempts to stop Ombugadu.
“Political parties should fix their problems instead of wasting their strength fighting Ombugadu. Let everybody bring their blueprint before the people and explain what they intend to do for Nasarawa State,” he said.
Ovie maintained that the 2027 election should be about ideas, competence and the future of Nasarawa State, rather than attempts to manipulate political structures or undermine individuals perceived to enjoy strong grassroots support.
He urged the people of the state, particularly the Eggon community, to remain politically vigilant and resist what he described as efforts to make them settle for less, insisting that voters would ultimately determine who enjoys their confidence at the polls.
Reduce repeated references to Ombugadu
News
200 widows benefit from empowerment outreach in Plateau
By Israel Adamu, Jos
Two hundred widows from communities across Langtang North Central State Constituency of Plateau State have benefited from an empowerment outreach organised by Gimbiya Gani Nandir Lar under the Jagoran Talakawa movement.
The outreach, held at Pilgani in Langtang North Local Government Area, was aimed at supporting vulnerable women and drawing attention to the challenges faced by widows, particularly those struggling to provide food, pay school fees and meet other basic needs for their families.
The organiser, Nandir Lar, who is the All Progressives Congress, APC, candidate for Langtang North Central State Constituency, said the gesture was motivated by compassion and concern for vulnerable members of the society.
She stressed that the outreach was not a political programme but an expression of love and support for humanity.
Nandir Lar said: “The plight of widows may not always make headlines, but their struggles are real, painful and deserving of our collective attention.
“This is simply an expression of compassion and love for humanity. It is not a political programme.
“Our constituency is home to people with diverse needs, including mothers, widows and young people who are seeking opportunities to improve their lives.”
Former Provost of the Federal College of Education, Pankshin, Amos Chirfat, commended the initiative, saying it had brought smiles to the faces of vulnerable women in the constituency.
Minority Leader of the Langtang North Legislative Council, Dirya Sheni, also commended Nandir Lar for supporting widows and other vulnerable members of the community.
At the end of the outreach, each of the 200 beneficiaries received a 10-kilogramme bag of corn flour, seasoning and N10,000 cash
News
SCUML, REDAN Strengthen Collaboration on Anti -Money Laundering Compliance
By Francis Wilfred
The Special Control Unit against Money Laundering (SCUML), and the Real Estate Developers Association of Nigeria (REDAN) have expressed commitment to ensure a full compliance with the Anti Money Laundering/Counter Finance on Terrorism/Counter Proliferation Financing, (AML/CFT/CPF) laws within the Nigeria’s real estate sector.
They made the resolve during a stakeholders’ engagement held on Thursday, September 10, 2026
The engagement focused on Mutual Evaluation readiness, risk-based supervision, beneficial ownership transparency, customer due diligence, internal controls and stronger collaboration between SCUML and the real estate sector.
Assistant Commander of the EFCC, ACE 1 Ibinabo Amachree, speaking on behalf of SCUML highlighted the strategic role of real estate operators in protecting the integrity of Nigeria’s financial system, particularly given the sector’s vulnerability to money laundering and other financial crime risks.
Amachree encouraged REDAN members to move beyond registration to ensure that compliance is embedded in their day-to-day operations. He mentioned the areas to include: understanding institutional risks, knowing customers and beneficial owners, identifying politically exposed persons, conducting appropriate sanctions screening, maintaining effective internal controls and meeting applicable reporting obligations
He, therefore, reaffirmed readiness to working closely with REDAN and other stakeholders to improve compliance, build capacity and promote a stronger culture of accountability across the real estate sector
“The message is clear: effective compliance is not just about meeting regulatory requirements; it is about protecting businesses, strengthening the real estate sector and safeguarding the integrity of Nigeria’s financial system”, she said.
In his remarks, the Chairman of REDAN, Lagos state, Mr Tony Kolawole pledged readiness to partner with SCUML in ensuring compliance with AML/CFT/CPF in the real estate sector to uphold financial integrity.
The engagement also provided an opportunity for REDAN members to share practical regulatory and operational challenges affecting the sector, reinforcing the importance of continuous dialogue between regulators and industry stakeholders.
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