CBN Governor Appears Before Osinbajo’s Panel Over 13bn Ikoyi Cash

CBN Governor Appears Before Osinbajo’s Panel Over 13bn Ikoyi Cash

The Governor of Central Bank of Nigeria, Godwin Emefiele, on Friday appeared before a panel set up by President Muhammadu Buhari to investigate the discovery of approximately N13 billion found in an Ikoyi apartment.

The National Intelligence Agency claimed ownership of the money, explaining that the money was meant for a covert operation.

The Panel headed by Vice President Yemi Osinbajo was also mandated to investigate the corruption charges against Secretary to the Government of the Federal (SGF) Babachir Lawal.

Recall that Buhari has previously suspended Director-General of the National Intelligence Agency, Ambassador Ayo Oke as well as Babachir Lawal.

Emefiele’s appearance before the committee was in connection with the discovered N13 billion, the Punch reports.

Although details of Emefiele’s submission to the committee were not clear at the time of filing this report, insiders have said that the money found in the apartment was released to the spy agency directly from the CBN.

The ‘Osinbajo’ panel, which was set up penultimate Wednesday, has 14 days to submit its report.

The panel is saddled with the responsibility of investigating how the NIA came in possession of the funds, how and by whose or which authority the funds were made available to the NIA, and whether or not there has been a breach of the law or security procedure in obtaining custody and use of the funds.