News
Emefiele operating separate $47bn foreign reserve account, 527 others without FG’s knowledge – Report
by SEGUN OLATUNJI.
The curious £2.55bn award against Nigeria.
Godwin Emefiele
…to be quizzed on $3.7bn COVID-19 IMF palliative funds diverted to private bank account in China
. Accused of bribing CBN external auditors to doctor reports to deceive FG in the past six years
. Alleged to have directed each commercial bank CEO to give him N30bn “pocket money” annually
Suspended Central Bank of Nigeria Governor, Godwin Emefiele has unilaterally been operating a separate foreign reserve account on behalf of the country without the knowledge of the Federal Government, a security report has revealed.
Emefiele, according to the report, masterminded the creation of two foreign reserve accounts for Nigeria with the second one the Federal Government is not aware of, having about $47billion.
CBN under Emefiele, the report further revealed, has also been running no fewer than 527 private bank accounts with public monies running to several billions stashed in them without the government being in the know.
These allegations, amongst several others against Emefiele, are contained in a security report submitted by the Department of State Services to former president Muhammadu Buhari since January this year.
The security report was sighted by our correspondent over the weekend.
The report handed over to former President Buhari by the DSS Director General, Yusuf Bichi, in January, it was learnt, contains more damning evidence against the suspended apex bank boss over a series of some fresh allegations.
The submission of the security report to the then President, First News had reported, necessitated Emefiele’s visits twice on Thursday January 19, 2023 to the Aso Rock Presidential Villa. The then CBN governor, First News had reported, was summoned by the then President Buhari following his receipt of the DSS security report on the fresh allegations and “overwhelming evidence” against the apex bank boss earlier that day from the DSS DG.
Emefiele had earlier that same day visited the Presidential Villa as part of the delegation of the Arab Bank for Economic Development led by its Director General, Dr Sidi Ould Tah.
But Emefiele’s second meeting that same day with Buhari was held behind closed doors at the Presidential Villa, where he was confronted with the fresh allegations leveled against him by the DSS. At the end of his closed door meeting with the then President Buhari, Emefiele declined to comment on the issues discussed when approached by State House correspondents.
Earlier, the DSS had accused Emefiele of aiding and abetting terrorism, insisting that the then CBN Gov must be prosecuted for the alleged crimes.
According to the report, DSS’ preliminary investigations revealed Emefiele’s involvement in various acts of terrorism financing, fraudulent activities and economic crimes of national security dimension.
But the already embattled Emefiele continued to employ all means to escape arrest and interrogation by the DSS. He even had to delay his return to Nigeria after a trip abroad. He was also said to have engaged some close associates of the then President Buhari to help him prevail on the DSS to let him off the hook. He was also alleged to have been employing propaganda through organised public protests and demonstrations by CSOs, all in a bid to stop his investigations by the DSS.
A nephew and close confidant of the then President Buhari, Mamman Daura and the then Kaduna State Governor Nasir El-Rufai were said to be the arrowheads of the highly influential and powerful politicians pressuring the DSS DG, Yusuf Bichi to let go of Emefiele, resulting in the inability of the secret police to interrogate the apex bank boss on the allegations leveled against him while Buhari’s tenure lasted.
First News, however, learnt that unknown to Emefiele, while he was out of the country, the DSS had interrogated and obtained documentary evidence from his deputies at the apex bank, external auditors to the bank and managing directors of 27 commercial banks regarding the monumental allegations of corruption and fraud being levelled against him by the secret police regarding forex allocations and other corruption allegations.
It was in the course of these widened investigations that the DSS unearthed 12 fresh allegations against the CBN Gov, First News reported.
It was gathered that during interrogation, the CBN external auditors, who have been working for the apex bank in the past six years, “gave evidence under caution” to DSS interrogators and provided documents to back their claim that Emefiele paid them to prepare “doctored audit reports” which the Federal Government under Buhari was inadvertently relying upon.
It was also learnt that during investigations, the DSS discovered that the controversial Ways and Means approval requested by the Finance Minister was actually in the region of N23.7trillion as against the N7.3trn presented to the National Assembly.
Some of the new allegations Emefiele was then being investigated for by the DSS include the N3.6bn COVID-19 palliative funds given Nigeria by the IMF two years ago to cushion the effects of the pandemic.
Emefiele, it was learnt did not inform the Federal Government about the IMF palliative but only allegedly diverted the money into a private account in China.
The demand for acknowledgement letter by the IMF from the Finance Minister let the cat out of Emefiele’s bag. The CBN Gov was however said to have told the then Finance Minister that he invested the money for the country.
The then Finance Minister on her part, was said to have demanded for about $700m out of the IMF palliative to enable her Ministry to “offset staff salary.”
The remaining $3billion, it was gathered, is still being kept in a bank in China without the Federal Government being aware of this development.
Also, the much-vaunted Single Treasury Account (TSA), it was learnt, has been discovered by the DSS to be a phantom device by Emefiele to deceive the Federal Government and all Nigerians. “There’s nothing like TSA account. Only Emefiele knows what he means by this,” a source said.
The DSS, it was further gathered, while grilling bank chief executives in January, also unearthed an allegation that the CBN boss directed all commercial banks’ managing directors to give him N30bn each every year as his own “pocket money.” Only a newly established bank (names withheld) allegedly paid Emefiele the least sum of N5bn. The bank MDs involved, it was learnt, wrote statements and provided the DSS with documentary evidence.
This was part of the reasons Emefiele, on January 18, 2023, through a CSO, approached an Abuja High Court presided over by Justice Belgore to obtain an interim injunction to restrain the DSS from obtaining information from the CBN and the commercial banks regarding forex allocations in the past six years.
But unknown to Emefiele, the DSS had already obtained a comprehensive list of all those involved in the forex distribution deal, including some highly placed Presidency officials and which was included in the security report on the CBN boss submitted to former President Buhari.
This security report, which former President Buhari refused to act upon, it was learnt, was recently dusted by the DSS and re-submitted to the President Bola Tinubu-led administration, which last Friday night suspended Emefiele from the office of the CBN governor and subsequently appointed an acting governor in his stead.
This action by President Tinubu against Emefiele gave the DSS the needed clearance and the green light to move in and arrest the suspended CBN governor on Friday night in his Lagos home, flying him to Abuja, where he’s currently being detained to answer questions on the various allegations leveled against him.
By Christy David
Professor Benjamin Okaba, President of the Ijaw National Congress (INC), has urged President Bola Tinubu to focus on serving the interests of the Nigerian people rather than catering to a select political group. His remarks follow recent controversial actions by Rivers State Governor Nyesom Wike.
Okaba stressed the need for Tinubu to take a firm stance against the growing influence of political elites and fulfill his commitments to the nation. “The president is tactically being unfair to Nigerians and encouraging Wike to keep doing more. It’s not fair,” he stated. “Nigerians expect so much from you, and that is why they voted massively for you. Serve the people, not a cabal.”
Speaking in an interview with ARISE News on Wednesday, Okaba voiced concerns over Wike’s involvement in political activities in Bayelsa, particularly regarding planned rallies in the state. He condemned these actions as unfair and divisive, arguing that they worsen political tensions in the Niger Delta.
Okaba pointed to the upcoming rallies on April 12, where opposing groups are expected to gather at the same venue, as a deliberate attempt to manipulate the political climate. He accused Wike of using these events to advance personal interests at the expense of the Ijaw people.
Describing Wike’s actions as a direct challenge to the Ijaw nation, Okaba criticized the former governor’s inflammatory rhetoric and the transformation of welcome rallies into platforms for political crises.
News
IPF Visit Burutu for On-the-spot Assessment as Dr. Takeme Reiterates Commitment to Sustaining Oborevwori’s MORE Agenda
By Favour Bibaikefie
The Executive Chairman of Burutu Local Government Area in Delta State, Dr. Julius Takeme, has reaffirmed his dedication to sustainable development across the council in consonance with the Gov. Sheriff Oborevwori MORE agenda. He made this commitment on Wednesday during a courtesy visit by members of the Ijaw Publishers Forum (IPF) at the local government secretariat.
The visit marked the beginning of an inspection tour by the IPF, a coalition of media executives, across Ijaw local government areas nationwide.
In his address to the IPF delegation, Takeme emphasized that his administration is committed to the MORE AGENDA, a developmental initiative championed by Governor Sheriff Oborevwori. He highlighted that within one year, Burutu Local Government has witnessed significant infrastructural improvements under his leadership.
“Guided by Governor Oborevwori’s MORE AGENDA, our administration has undertaken numerous visible infrastructural projects in Burutu,” Takeme stated. “This mandate has driven us to prioritize the transformation of Burutu, leading to the construction of a combined one-kilometer internal road network.”
The Olotu of Obotebe Kingdom further noted that his administration has invested in critical sectors such as public health, sanitation, housing, and civil servant welfare. He pointed out that several senior council officers had previously faced challenging working conditions, which his administration has actively addressed.
Takeme listed key intervention projects, including the renovation of health centers in Labulouseigha and Ofougbene communities, the construction and renovation of senior staff quarters, and the building of residential quarters for the President of the Customary Court. Additional projects include the construction of three modern public toilets, distribution of essential medicines to health centers, and the employment of over 2,000 women to maintain cleanliness within the local government headquarters.
He further disclosed that several other projects are in the pipeline and will be officially commissioned as part of his administration’s one-year anniversary celebrations.
IPF President and Niger Delta activist, Comrade Austin Ozobo, who also serves as the Publisher of Congress Newspaper, explained that the forum’s tour aims to evaluate governance and development across Ijaw communities. He commended Takeme for his efforts and urged him to sustain the momentum in delivering essential services and infrastructure to the people of Burutu.
By Warefa Pereke.
March 31, 2025.
Thousands of Dignitaries and Media Outfits Witnessed the Unveiling of Iduwini Voice Newspaper.
March 29, 2025, will be etched in the annals of history as the day Iduwini Voice Newspaper was officially launched at the prestigious MBB Event Center. The highly anticipated event, drew thousands of dignitaries, media personalities, and enthusiasts from across the region to MBB event Center, Refinery Road Effurun, Delta State.
The launch ceremony, which commenced at 11:00 am, was a testament to the meticulous planning and organization of the Media team. The MBB Event Center was transformed into a vibrant hub of activity, with attendees eagerly awaiting the unveiling of Iduwini Voice Newspaper.
In his welcome address, The Editor-in-Chief and CEO of Iduwini Voice Newspaper, Dr. Peretengboro Clintin Bibaikefie, outlined the publication’s vision and mission, emphasizing its commitment to factual reporting, balanced analysis, and investigative journalism.
“Permit me to say that the idea of Iduwini Voice stemmed from a revolutionary vision that tasked me heavily in a deep ‘wilderness of the mind,’ thronging hard to come up with a catchy, fancy, and contemporary brand name, but kept being guided back to my root…For too long, our stories have been told by others – often with bias, misrepresentation, or outright immission, often intended to manipulate the powers that be against us Africans, Nigerians, Niger Deltans, and Ijaws in particular. The Iduwini Voice was founded on the principle of authenticity, truth, and empowerment. We believe that everyone has a story to tell, but not everyone has the platform to tell it. This is why we boldly adopted the slogan: “Voice of the Voiceless.””
“We will strive to provide our readers with accurate, timely, and engaging content, while also promoting the values of fairness, justice, and equality,” he said.
In his lecture delivered at the occasion of Iduwini Voice Newspaper/TV launch, entitled: “The Digital Tide And The Upsurge of Avant-Garde Journalism”, Professor Benedict Ebimotimi Binebai explored the remarkable journey of Iduwini Voice Newspaper and its impact on the media world. “Iduwini Voice delves into the vision of creativity and innovation that have made it a beacon of Avant-Garde storytelling. Iduwini Voice brings stories from the grassroots, amplifying the voices of marginalized communities. It helps to preserve the cultural heritage and traditions of the Niger Delta region, and conducts in-depth investigations into issues like corruption, human rights abuses, and environmental degradation,” he said.
In his keynote address, The Father of the Day, Professor Benjamin Ogele Okaba, President Ijaw National Congress, said that as the Ijaw Nation demonstrates its dedication to the development of the media industry, Iduwini Voice Newspaper will become a leading voice in Nigerian journalism, promoting transparency, accountability, and good governance.
The chief Launcher, Chief Dr. Julius Takeme JP (Phd), The Olotu of Obotebe Kingdom, and Chairman, Burutu Local Government Council, pressed on the need for the Ijaws to support any Ijaw cause financially and otherwise. “We are proud to launch Iduwini Voice Newspaper, a platform that will provide a voice for the voiceless, promote transparency, and hold leaders accountable,” he stated.
Chief Comrade Cheriff Mulade, Director-General, Center For Peace and Environmental Justice (CEPEJ), who Chaired the occasion, emphasized the importance of a free and independent press in promoting democracy and good governance. He expressed his commitment to supporting the growth and development of the media industry in Niger Delta.
The event featured a range of activities, including a discussion on the role of the media in promoting democracy, a presentation on the history and significance of Iduwini Voice Newspaper, and a tour of the publication’s state-of-the-art facilities.
As the curtains drew to a close with a vote of thanks offered by Barrister Sam Ikporukpo, attendees were treated to a spectacular display of music, dance, and other performances, showcasing the rich diversity of the Niger Delta region.
Other dignitaries present were Pastor Adonis Osarobo, the Zonal Pastor of the Redeemed Christian Church of God, Later Rain Zone, Spiritual Father of the Day, Hon. Julius Pondi, Chairman of the House Committee on Environment & Member Representing Burutu Federal Constituency, House of Representatives, Abuja, Comrade Newworld Endoro, Chairman, Odimodi Community, Hon. Dennis Yenbri Bibaikefie, Mr. Akin Benikrukru, PIA Chairman, Iduwini Host Community Development Board, Delta State.
Others were Comrade Isaiah Tamaraunimi Ingo, SA to the NDDC Chairman, Comrade Ozobo Austin,
Publisher of Cogress Newspaper & President, Ijaw Publishers’ Forum (IPF), Mr. Cletus Opukeme,
Publisher of Daily Watch Newspaper,
Also present were Arex Ambrose Akemotubo, CEO, WaffiTv & Auditor of Delta State PDP, Jacobs Brakere Abai, CEO of Gbaramatuvoice, Comrade Mike Ugedi, CEO of Delta Events Tv,
Ekpegha Tamaraupreye,
Publisher of South-South Daily, and a host of others.
In an interview with Media personnel after the lunching, the Editor-in-chief of the Ezon Efie Media outfit, Engr. Warefa Pereke, said that with its lunch, Iduwini Voice Newspaper has set a new standard for journalism in Nigeria, and its commitment to truth, fairness, and accountability is expected to resonate with readers across the Nigeria”.
PHOTO CAPTION: Dignitaries and guests at the launch of Iduwini Voice Newspaper at the MBB Event Center on March 29, 2025.