Group Calls On United States Congress To Investigate, Place Visa Restrictions On Nigeria’s Central Bank Governor, Emefiele, Others Over Corruption In CBN

June 3, 2020
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A group, Nigerian Young Professionals Forum, United States of America/Caribbean chapter, has asked the United States Congress to investigate and sanction Central Bank of Nigeria governor, Godwin Emefiele, and others over corruption and looting in the apex bank.

NYPF in a letter to Nancy Pelosi, Speaker of the House of Representatives, Addison Mitchell McConnell, Senator from Kentucky, Charles Ellis Schumer, Senator from New York, and Kevin Owen of the House of Representatives, called for a special congressional hearing to what it described as “wanton looting, brazen stealing and corruption” by Emefiele and members of the inner circle of President Muhammadu Buhari’s government.

The letter dated June 2, 2020 and signed by Jackson Ude, Coordinator of the group, said the activities of CBN governor had in no small measure weakened the country’s economy, which largely depends on oil exports and foreign grants. 


The letter reads, “You may wish to recall that President Buhari came to power in 2015 with a pledge to tackle corruption. But no success prosecutions have happened, and he appears to condone and shied his friends and family members tainted by serious allegations of financial fraud. The activities of CBN governor Emefiele have, in no small measure, contributed and continue to contribute to Nigeria’s dubious fight against corruption and further weakened the country’s economy — which largely depends on oil exports and foreign grants.

“Between 2015 and 2016, under Emefiele’s watch, CBN conspired with Nigerian National Petroleum Corporation to illegally divert $24,263,008.56 meant to shared to 37 states and 774 local councils. In a leaked tape obtain by saharareporters.com, one if Nigeria’s leading investigative news website, Emefiele and some officials of CBN were caught discussing how to cover up the loss of N500bn (an equivalent of $1.2 billion) stolen from the CBN in a private investment that failed. Till date, no one including Emefiele has been held accountable.

“In a most bizarre manner, the CBN allegedly awarded a contract for the expansion of its parking lot to Bulet International Limited, a company owned by Ismaila Isa Funtua, an ally and confident of President Mohammadu Buhari at a whopping N30bn (the equivalent of $77.5 million) in 2019. No parking lot extension contract cost that much in the United States. The contract, which violated Nigeria’s procurement laws, was secretly awarded to Bulet International. No investigation and prosecution have been despite numerous media reports. 

“Emefiele has been running the CBN with top members of the Buhari cabal led by Isa Funtua the owner of Bulet Construction Company and the recently deceased Chief of Staff to President Buhari, Abba Kyari, Attorney General and Minister for Justice, Abubakar Malami, Mamman Daura, Lawan Daura, Babagna Kingibe, Nasir Danu and few others who are all from the Northern Nigeria. What is even more shocking is that Isa Funtua and the cabal have been running a black-market forex cartel worth $800m every week since the beginning of the Buhari administration in 2015. This continued until late 2017 when the Vice President Yemi Osinbajo scaled it down it to $500m when the President was away for medicals.”

NYPF said it was informed that a large portion of the funds stolen through the CBN governor end up in the coffers of Boko Haram terrorists, armed bandits, and Fulani Jihadists, their families and others linked with the corruption and killing currently taking place in Northern Nigeria. 

According to the group, almost a hundred per cent of the 7,400 murders by the Jihadist Fulani herdsman since June 2015 were against Christians.

It then called on the US Congress to invoke the Global Magnistky Act and place visa restrictions on Emefiele, Malami and the others linked with the corruption in CBN.

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