‘EFCC invites more CBN officials over alleged forex manipulation’

by Azeez Adeniyi

The Economic and Financial Crimes Commission (EFCC) has invited more senior officials of the Central Bank of Nigeria (CBN) for interrogation over alleged foreign exchange manipulation, Punch reports.

The EFCC had reportedly questioned and detained two directors of the apex bank on Wednesday.

They were reportedly released late Wednesday after writing a statement of oath.

A source revealed that the senior officials grilled by the EFCC were the Director of Procurement and a Special Adviser to the Central Bank Governor, Godwin Emefiele.

[InCaseYouMissedIt: EFCC arrests two CBN directors for forex manipulation]

The source said investigators believe that the activities of some officials of the bank impacted negatively on the fortunes of the naira.

The bank accounts of the suspected officials are also reportedly being scrutinised by the anti-graft agency.

The source said, “We actually invited about four senior CBN officials on Wednesday but only two showed up. One of them told us that he was ill and asked us to reschedule the invitation.

“We have now sent out letters to other senior officials and they will appear before us soon. You should understand that things that involve the apex bank are always sensitive.”

Another source added, “We have arrested two directors of the CBN in connection with forex manipulation. Ironically, immediately we started investigating these chaps a month ago, the CBN reeled out a new forex policy which seeks to flood the market with excess dollars to strengthen the naira.

[Read Also: CBN licenses Development Bank of Nigeria]

“Already, we have searched their houses and recovered some sensitive documents. We have reason to believe that they may not have acted alone. We expect to make more discoveries as investigations continue.”

He added that a report of the probe would be sent to President Muhammadu Buhari after investigations might have been concluded.

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