The Economic and Financial Crimes Commission (EFCC) has discovered the sum of seventy billion naira fraudulently raised by the suspended Governor of the Central Bank (CBN), Godwin Emefiele.
The EFCC stated that Emefiele conniving with others, raised N70 billion through a forex differential fraud.
According to the anti-corruption body, forex differential fraud was created by Emefiele and the Sarkin Hausawa of Lagos, Alhaji Aminu Yaro, and his wife who was an employee of the CBN.
It interpreted Emefiele’s actions as a gross abuse of the privileges of his office.
A source who spoke with reporters in confidence said:
“This is a case of forex differential fraud involving the CBN governor, Godwin Emefiele.
“The governor sells forex to various individuals at the official rate on paper. He has an understanding with the individuals that they will sell at the black market rate when the CBN credits the banks of the individuals that buy the forex.
“When they sell, the difference will be paid into the account of Aminu Yaro on behalf of Emefiele,
“So far, about N70 billion has been traced to the account in the course of the investigation.
“The wife of Aminu Yaro is an employee of CBN and a signatory to the company account where the money is paid into. She has also been invited by the EFCC for questioning.
“The case was compromised by the suspended Chairman of the EFCC, Abdulrasheed Bawa because some people close to the seat of power are involved.
“They charge the wife for SCUML (Special Control Unit Against Money Laundry) offences but the main case was left out while the differentials in forex exchange malpractice raised benefits of about N70 billion.”
