CBN Audit Report Set for Imminent Release, Federal Government Prepares for Public Exposure

On Monday, the Federal Government acknowledged that the majority of Nigeria’s issues were the result of poor leadership on the part of the country’s leaders.

However, the government praised President Bola Tinubu’s administration for its wise decision regarding the Central Bank of Nigeria, stating that the report of the audit by a special investigator will be released soon.

In a letter dated July 28, 2023, Tinubu designated Jim Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria, as the CBN’s special investigator.

The Special Investigator would immediately report to the President’s office, the President instructed the Special Investigator to look into CBN and other significant government-run businesses.

The letter read, “In accordance with the fundamental objective set forth in Section 15(5) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), this administration is, today, continuing the fight against corruption by appointing you as a Special Investigator to investigate the CBN and Related Entities. This appointment shall be with immediate effect, and you are to report directly to my office.”


George Akume, the secretary to the government of the federation and a former governor of Benue State, responded to questions from journalists at a press conference in Abuja on the 63rd anniversary of Nigeria’s independence by saying that Nigerians would eventually understand what actually went wrong and what led the nation to its current predicament.

He continued: “Most of these problems confronting us are because of bad governance. The present government has confronted and is confronting these challenges. When President Bola Tinubu came on board, he made a very sound decision at the CBN. That singular act led to a massive improvement in the capital market, as experts have said; it is something that has never happened in the past 15 years.

“We have a new team at the CBN, and a special investigator has been in the CBN for some time now, and his result will soon be released, and Nigerians will know what really went wrong and what brought us to where we are today.”

He said that no international leaders had been invited to Nigeria’s 63rd anniversary of independence on October 1 because the country preferred a low-key commemoration.

“Low-key celebration has nothing to do with whether we’re doing well. Economic times are hard, and we are looking at it not just at the national level but also as a family. We have not invited world leaders. During the inauguration of the president, 53 world leaders were invited, so we have not invited any world leaders,” he added,

“As you are aware, the President has given his approval for this 63rd anniversary to be low-key in line with the present economic realities. The theme of the anniversary is “Nigeria @ 63, Renewed Hope for Unity & Prosperity.”

“We have all agreed to live in a peaceful, united, prosperous country, despite our diversity. Without these, no nation can move forward. The government is making sure our national interest is not undermined.”

He claims that now is a particularly important time to celebrate because there has been an uninterrupted democratic record since 1999 and a smooth, successful, and peaceful presidential transition process.

The SGF said, “Despite political tremors and a wave of coups in some parts of the ECOWAS sub-region, Nigerians have fully embraced democracy with its core values and practises as the best form of governance. Democracy affords citizens the opportunity, through elective structures and processes, to effectively participate in the affairs of their country.

“The relationship between the people and government in representative democracy is symbiotic: while the citizens support the government, the government provides security, protects, and enhances their interests.

“The government is fully aware of the economic challenges that Nigerians are confronted with since the removal of the fuel subsidy as well as the impact of the global economic downturn. The government is working assiduously to provide the necessary palliatives so as to mitigate such challenges, as well as the provision of buses to ease hardship on transportation, among others. At the same time, the government is engaging with labour in order to address areas of concern for the well-being of all Nigerian workers and Nigerians generally.

“It is for this reason that this government led by His Excellency, Sen. Bola Ahmed Tinubu, GCFR, is anchoring on the Renewed Hope Agenda, which will improve food security, guarantee an end to poverty, improve security, economic growth and job creation, access to capital, improve the playing field on which people and particularly companies operate, respect for the rule of law, and fight against corruption.

The event’s scheduled events included an anniversary symposium and public lecture on September 28, 2023, at the State House Conference Centre, a lecture on September 29, 2023, at the National Mosque Conference Centre, and Juma’at Prayer on September 30, 2023, at the National Mosque.

Akume also announced the following events: a military parade on Monday, October 2, 2023, at the Presidential Villa, at 9 a.m.; a multi-denominational church service on Sunday, October 1, 2023, at the National Christian Centre; and a presidential broadcast on Sunday, October 12023, at 7 am.

“I, therefore, call on you as media professionals and patriots to support this administration and build a workable partnership in order to transform our country into the land of our dreams. Also, I count on you to publicise activities lined up to mark Nigeria’s 63rd Independence anniversary”, he said.

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