
Crime
Emefiele operated 593 illegal US, UK, China accounts – CBN investigator

The Special Investigator on the CBN and Related Entities, Jim Obaze, found that the ex-CBN governor lodged £543, 482,213 in fixed deposits in UK banks alone without authorisation.
When contacted, counsel for Emefiele, Mathew Bukkaa, SAN, asked one of our correspondents to send him a text message. He has yet to reply to the message as of the time of filing this report.
Meanwhile, Obaze submitted his final report tagged, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offences) to President Bola Tinubu on Wednesday.
The report partly read, “The former governor of CBN, Godwin Emefiele invested Nigeria’s money without authorization in 593 foreign bank accounts in United States, China and United Kingdom, while he was in charge.
“All the accounts where the billions were lodged have all been traced by the investigator.”
In a letter dated July 28, 2023, President Bola Tinubu had named a former Executive Secretary of the Financial Reporting Council of Nigeria, Obazee, as the CBN special investigator
Emefiele, who is currently in Kuje Custodial Centre, is being prosecuted for N1.2 billion procurement fraud.
He has not been able to perfect the N300m bail granted him by a High Court of the Federal Capital Territory on November 22.
However, documents obtained by our correspondent on Thursday indicated that the former apex bank governor might face fresh criminal charges over the handling of the CBN naira redesign policy.
Emefiele could be prosecuted for illegal issuance of currency under section 19 of the CBN Act alongside Tunde Sabiu, a former aide to former President Muhammadu Buhari, and 12 top directors of the CBN.
It was gathered that the naira redesign policy was sold to Buhari at the instance of Sabiu and that the initiative was done without the approval of the board of the CBN.
No approval
The investigator found that Buhari didn’t approve of the naira redesign. It was Tunde Sabiu who first told Emefiele in September 2022 to consider the redesign of the naira. On October 6, 2022, Emefiele wrote to Buhari that he wanted to redesign and reconfigure N1000, N500 and N200 notes.
“The former President tagged along but did not approve the redesign as required by law. Buhari merely approved that the currency be printed in Nigeria. The redesign was only mentioned to the board of the CBN on December 15, 2022, after Emefiele had awarded the contract to the Nigerian Security Printing and Minting Plc on October 31, 2022,’’ the documents noted.
Emefiele was said to have contracted the redesign of the naira to De La Rue of the UK for £205, 000 pounds under the vote head of the Currency Operations Department after the NSPM said it could not deliver the contract within a short timeframe.
The special investigator found that N61.5bn was earmarked for the printing of the new notes out of which N31.79bn had been paid.
As of August 9, 2023, findings revealed that N769bn of the new notes were in circulation.
The probe of the CBN also revealed the fraudulent use of N26.627tn Ways and Means of the Apex Bank as well as the misuse of the COVID-19 intervention fund.
For instance, the CBN under Emefiele at its 661st meeting held on October 27, 2020, approved that the Consolidated Revenue Fund Account should be debited with the sum of N124.860bn, and the decision was implemented on October 9.
Similarly, the Committee of Governors at its 670th meeting held on December 9, 2020, granted anticipatory approval ‘’pending receipt of a formal request by Mr President and ratification by the board of directors the payment of the sum of N250bn only to the Federal Government of Nigeria to address challenges as a result of low revenue inflow and the payment of salaries.
The decision was implemented on December 15, 2020.
Anticipatory approval
Also on December 30, 2020, the committee of governors at its 672nd meeting granted another anticipatory approval for N250bn to the Federal Government for payment of salaries pending receipt of a formal request by Mr President and ratification by the board of directors.
The apex bank’s management through the Finance and General Purpose Committee equally granted anticipatory approval on the investment of $200mn in equity warrants of the Africa Finance Corporation.
The section also provides that such advances are to be repaid by the end of the financial year in which they are granted otherwise, the CBN shall be stopped from granting such advances in the subsequent year.
The advance is not to be repaid by way of promissory note, securitization or issuance of treasury bills.
The CBN investigator discovered that the CBN Ways and Means was abused under the Buhari administration.
The document further said, “In an instance, they (senior CBN and government officials) padded what the former President Muhammadu Buhari approved with N198,963,162, 187. There are instances where no approvals are received from the former president and yet, N500bn is taken and debited to Ways and Means.
“There are more shocking instances where the erstwhile CBN governor and his four deputy governors connived to steal outright in order to balance the books of the CBN.
“This was by violently taking money from the Consolidated Revenue account and then charging it to Ways and Means. It was a total of N124.860bn. They even created the narration as a presidential subsidy and expanded the ways and Means portfolio to accommodate crime.
“The CBN officers and even the then acting CBN governor could not produce the Presidential Approval of most of the expenses described as ‘Ways and Means.’ When confronted, to provide the breakdown of the supposed N22.7trn that was presented to the 9th National Assembly to illegally securitise as ‘Ways and Means’ financing, they were only able to partially explain a total of N9.063 trn or N9.2trn depending on which official you are considering his submission and an unreasonable attribution of non-negotiated interest element of N6.5tn.
“This shows that this was the point where the officers of the immediate past administration as well as the erstwhile CBN governor and his four deputy governors connived, defrauded, and stole from the commonwealth of our country with the aid of civil servants.’’
Continuing, the report said, “The true position of the Ways and Means as documented from the reconciliation between the CBN and the Ministry of Finance at the time is N4,449,149,411,584.54.
“This may have been the main reason the past administration hurriedly sought that the advances of N22.7trn be securitised by the 9th National Assembly on December 19, 2022, which they also hurriedly did despite the fact that it contravenes section 38 of the CBN Act, 2007.”
Legal fees
The CBN under Emefiele was also said to have spent N1.7bn on questionable legal fees for 19 cases instituted against the naira redesign policy.
The investigator also discovered how Emefiele misrepresented the presidential approval for the NESI Stabilisation Strategy Limited approved by former president Goodluck Jonathan.
The document read, “The Presidential approval granted by then President Goodluck Jonathan was rightly stated by him NESI should be a company limited by guarantee but the Committee of Governors misled the Board of the CBN by relying on non-existent advice by the office of Attorney-General and Minister of Justice to incorporate a company limited by shares for which the allotted share capital exceeded the authorised share capital (See 380th meeting of the Committee of Governors held in January in January 2015) and allotting unauthorised share capital to Mr Godwin Emefiele and Mr Mudashiru Olaitan without lawful approval by the President.
“N1.325bn was stolen pre-incorporation and the money funnelled to four companies, including a legal firm which got N300mn.’’
Between 2015 and 2021, an investment company was said to have collected unlawfully a total of N4.89bn.
A breakdown indicated that the firm received N262mn in 2015, N464mn in 2016, N550mn in 2017, N726mn in 2018, N762 in 2019, N684 in 2020 and N1.44bn in 2021, totalling N4.89bn.
Emefiele also allegedly paid N17.2bn to 14 deposit money banks participating in the Nigerian Electricity Market Stabilisation Facility.
“A total of 14 DMBs engaged in the manipulation by unlawfully arranging and collecting 1.9535 per cent of the total disbursements paid to the DMBs participating in the Nigerian Electricity Market Stabilisation Facility.
The fees are paid to the banks in the ratio of their contributions to the NEMSF disbursement, according to External Auditor’s Notes to the Financial Statement of NESI Stabilisation Strategy Limited.
“The CBN also went further by authorising the issuance of debenture for the NESI SPV, starting with N64.8bn in 2015. By 2021, N952bn debenture had been issued. The investigator said the money was diverted from public funds,’’ the document further stated.
It was further gathered that Emefiele could be tried for alleged manipulation of the naira exchange rate, fraudulent implementation of the e-naira project, and exemption of three foreign firms from paying income tax.
Meanwhile, the investigation has uncovered the strange illegal withdrawal/theft of $6.23mn from the CBN vault by two persons who used a forged presidential letter.
The suspects currently in custody were said to have presented a forged letter on February 7 and 8, 2023, purportedly signed by Buhari to withdraw the money allegedly meant for payment for foreign election observation missions.
Crime
Six soldiers, 12 civilians killed as terrorists attack Zamfara, Sokoto communities

At least six soldiers and 12 civilians have been killed after suspected terrorists launched coordinated attacks on communities in Zamfara and Sokoto states, overrunning a military outpost, abducting scores of residents and setting a family ablaze.
The attacks occurred late Saturday night in Kasuwar Daji, Kaura-Namoda Local Government Area of Zamfara State, and Lajinge village, Sabon Birni Local Government Area of Sokoto State.
In Zamfara, residents said the terrorists stormed Kasuwar Daji at about 11:30 p.m., overpowering a military outpost before attacking the community.
Six soldiers were reportedly killed during the assault, while no fewer than 75 residents were abducted and taken into the forest. The attackers also looted shops and other properties.
A resident, Alhaji Aminu Kasuwar Daji, said the gunmen arrived in large numbers and first engaged the military before turning their weapons on civilians.
“Our calls to the Zamfara State Government and the Federal Government are to come to the aid of Zamfara people generally on this insecurity bedevilling the state.
“We are really in danger if terrorists can overpower the military and succeed in their attacks on innocent citizens,” he said.
Former Deputy Speaker of the Zamfara State House of Assembly, Namadi Kasuwar Daji, also confirmed the incident, saying he was informed by relatives while he was outside the state.
“I was told that the terrorists even killed soldiers, but I was not told the actual number. Again, I was told that after looting shops of foodstuffs, drinks and other properties, they also abducted an unspecified number of residents whom they took into the bush,” he said.
The Zamfara State Police Command had yet to officially confirm the attack as of press time. Its spokesperson, DSP Yazid Abubakar, said he would verify the report after contacting officers in the area.
Father, two sons burnt alive in Sokoto
In neighbouring Sokoto State, suspected terrorists attacked Lajinge village in Sabon Birni Local Government Area, killing at least 12 people in an assault that residents said lasted for more than four hours without any security intervention.
The attackers reportedly invaded the community at about 11 p.m. on Saturday and continued shooting until around 3:30 a.m. on Sunday.
A resident, who spoke anonymously, said 11 victims were killed by gunfire, while a woman identified as Agada reportedly died from shock during the attack.
He said six people, including a father and his two sons, were burnt alive after the terrorists surrounded the house where they had taken refuge.
“They ordered those inside to come out, but they refused. The attackers then poured petrol on the room and opened fire. When those inside attempted to escape through the door, they kept shooting at them. Their bodies were left inside the burning room,” he said.
Those reportedly burnt to death were identified as the head of the household, Mallam Wauro, popularly known as Mallam Roro; his two sons, Ukasha and Mujaheed; two relatives, Sufyanu and Sani Shanbami; and an internally displaced person sheltering in the house.
Another resident, Lawwali, was reportedly shot dead while attempting to flee the compound, bringing the reported death toll in the household to seven.
Other victims, including Yusuf and three internally displaced persons, were also reportedly shot while trying to escape from the village.
A community vigilante member said local volunteers were overwhelmed by the terrorists’ superior firepower.
“We were at the primary school guarding the village when we suddenly heard heavy gunfire. We all ran for safety and kept moving from one hiding place to another whenever the shooting came closer,” he said.
According to him, the attackers moved freely through the village after overpowering the local vigilantes and rustled cattle and sheep from several homes.
“They stationed one of their rifles in a strategic location that kept firing while the others entered houses to steal livestock,” he said.
He added that the gunmen later attacked Mallam Wauro’s residence, killing him and two of his sons, abducting his two wives and taking away all his cattle.
Residents said they could not immediately establish the exact number of people abducted because some of those initially taken away, particularly children, were later released.
They lamented that the terrorists operated unhindered for several hours.
“The bandits stayed in our village for hours without any intervention. They even walked along the main road laughing and smoking cigarettes as if they had conquered the community,” one resident said.
The villagers alleged that security personnel stationed in nearby Unguwar Lalle and Dan Tudu, both about two kilometres from Lajinge, failed to respond despite repeated distress calls.
They also disclosed that eight people had been killed in the community about three weeks earlier and appealed for urgent government intervention.
“We are Nigerians and we have voter cards. We elected the government to protect our lives and property. We are pleading with the authorities to deploy security personnel to safeguard our communities,” another resident appealed.
When contacted, the spokesperson for the Sokoto State Police Command, DSP Ahmad Rufai, said he was on transit and would verify the incident upon arriving at his office.
Crime
Army troops uncover shallow grave, exhume remains of slain Imo community leader, Chief Anyadu

Troops of 34 Artillery Brigade, operating under Operation UDO KA and through ongoing Operation EASTERN SANITY II, have uncovered and exhumed the remains of late Chief Ibe Anyadu of Aggah Community in Imo.
Anyadu was allegedly murdered by suspected members of a criminal gang recently apprehended in connection with violent crimes in South-East.
This is contained in a statement issued by Lt.-Col. Olabisi Ayeni, Acting Deputy Director Army Public Relations 82 Division Nigerian Army in Enugu on Monday.
Ayeni said that the development followed recent intelligence-driven operations that led to the arrest of suspects responsible for the killing of a Nigerian Army soldier and the recovery of stolen service weapons.
According to him, during interrogation, one of the suspects confessed to involvement in the murder of Anyadu and volunteered to lead troops to the burial site.
“On Aug. 2, the suspects guided troops to a shallow grave within Umudike Forest, one of the criminals’ known camps, where the remains of the late community leader was successfully exhumed.
“The exhumation was conducted in the presence of the deceased’s family members, vigilante personnel from Ohaji/Egbema Local Government Area, and representatives of Aggah and Umudike communities.
“The family provided a coffin and ambulance to ensure a dignified burial in accordance with their customs and traditions,” he said.
The Commander, Joint Task Force South-East, Operation UDO KA, Maj.- Gen. Oluremi Fadairo, extended his condolences to the family of the late
Anyadu and prayed for the peaceful repose of his soul.
Fadairo, who is also the General Officer Commanding (GOC) 82 Division, assured the family and the people of Aggah Community that justice would be served, as the suspects would be prosecuted in accordance with the laws
“Headquarters Operation UDO KA, as part of ongoing peace-building efforts in the South-East, remains committed to dismantling criminal networks and bringing perpetrators of violent crimes to justice.
“The public is encouraged to continue supporting security agencies with timely and credible information, which remains vital to the success of ongoing operations,” he said.
Crime
Police arrest 4 suspects for armed robbery, cultism, recover firearm, others in Enugu

The Police Command in Enugu State has arrested four suspects for armed robbery and cultism, recovering firearm and other exhibits in the state.
This is contained in a statement issued by the Spokesman of the Command, SP Daniel Ndukwe, on Saturday in Enugu.
Ndukwe noted that the operational successes led to the arrest of two armed robbery suspects and two suspected cultists in separate operations.
“On July 27 at 6:20a.m., operatives of Anti-Cultism Sub-Unit of the Violent Crime Response Unit (VCRU), acting on confessional statement of a suspected member of the Black Axe Confraternity, and recovered one pick-handle axe.
“The suspect had earlier been arrested at a hotel in Independence Layout, Enugu, on July 26 with a knife recovered from him, while another accomplice escaped.
“The duo allegedly robbed a victim of a Samsung A12 mobile phone at the hotel from a male victim, while another victim sustained an injury to a finger on his right hand during the robbery.
“The robbed phone, knife, and pick-handle axe were all recovered,” he said.
Ndukwe also noted that at 12 noon on July 26, following credible information and collaboration with law-abiding residents, operatives attached to the command’s Igbo-Etiti Police Division arrested two male suspected cultists in Ukehe community.
The spokesman said that the suspects were found in possession of one locally-made pistol and one expended cartridge, which were recovered from them.
According to him, they also confessed to being members of the Aye Confraternity.
He said that Investigations are currently ongoing to arrest other accomplices still at large and recover additional exhibits.
Ndukwe said that all detained suspects would be arraigned in court upon the conclusion of investigations.
The state’s Commissioner of Police in Enugu State, Mr Mamman Giwa, had commended the vigilance and cooperation of members of the public, particularly the law-abiding residents of Ukehe Community.
The commissioner urged residents to remain law-abiding and continue to provide timely and credible information to the police to enhance the fight against crime and criminality across in the state.
Crime
Troops dismantle criminal syndicate operating in S/East, S/South, recover cache of stolen weapons

Troops of 34 Artillery Brigade, operating under Operation UDOKA through ongoing Operation EASTERN SANITY II, have arrested key members of a notorious criminal syndicate responsible for ambush of troops on May 4, 2026.
This is contained in a statement issued by the acting Deputy Director Army Public Relations 82 Division Nigerian Army, Lt.-Col. Olabisi Ayeni, on Saturday in Enugu.
Ayeni said that unfortunately, the ambush claimed the life of one soldier and left another wounded.
He said that following the attack, troops launched a series of intelligence-led raids aimed at apprehending the perpetrators and recovering weapons stolen during the incident.
According to him, these sustained operations resulted in the arrest of the suspects.
He noted that acting on actionable intelligence, in the early hours of July 31, 2026 troops in collaboration with 181 Battalion operating under 63 Brigade, Nigerian Army, conducted a coordinated raid at Opaebe and Oleh in Delta.
The army spokesman said that the raid led to the arrest of the suspects popularly known as Chiboy, Marathon, and Onowu, who had fled to Oleh in Delta State after the dastardly ambush on troops.
He said that the suspects guided troops to their hideouts at Aggah Plantation, Ekpeaggah, Rivers State, and Umudike Plantation, where the stolen weapons and other arms used in committing their nefarious acts were concealed.
“During the operation, troops recovered the stolen service weapons comprising one AK-47 rifle with two magazines and one FN rifle with two magazines.
“Additionally, troops recovered three more AK-47 rifles with nine magazines, pistols with their magazines, 194 rounds of 7.62mm special ammunition, and 45 rounds of 7.62mm NATO ammunition.
“Military clothing and protective gear, including camouflage shirts, trousers, jungle hats, and a fragment protection jacket, were also recovered.
“Other items included one empty first aid box and five mobile phones believed to be linked to the syndicate’s criminal activities,” he said.
Ayeni said that the suspects are currently in custody for further investigation and would face prosecution in accordance with the law.
He said that the Headquarters Joint Task Force South-East, Operation UDOKA, had commended the professionalism, resilience, and inter-agency cooperation demonstrated by the troops throughout the operation.
“This success underscores the commitment of the Nigerian Armed Forces and other security agencies to safeguarding lives and dismantling criminal networks in order to sustain the peace-building processes ongoing across the region,” he added.
Crime
Enugu Police Rescue One Kidnap Victim, Intensify Search for Two Others

The Enugu State Police Command has rescued one of three persons abducted by armed men at Inoyi, Affa Community, in Udi Local Government Area of the state.
The incident occurred in the early hours of Sunday, August 2, 2026, within the precinct of a church in the community.
The Police Public Relations Officer, SP Daniel Ndukwe, said in a statement that joint security operatives comprising police personnel, forest guards and members of the Neighbourhood Watch Group had intensified operations to apprehend the suspects and rescue the remaining two victims.
According to him, the operatives, while closing in on the fleeing assailants, forced them to abandon one of the victims, who was rescued unhurt.
He said the attackers, however, escaped with the other two victims.
The Commissioner of Police, Enugu State Command, CP Mamman Bitrus Giwa, has directed the Area Commander, Oji-River, and the Head of the Command’s Violent Crime Response Unit to intensify the operation and deploy all available resources to secure the safe rescue of the remaining victims.
The CP also directed the Assistant Commissioner of Police in charge of the State Intelligence Department to generate actionable intelligence to support the rescue operation.
He further ordered the activation of the surveillance and technical capabilities of the Enugu State Command-and-Control Centre to bolster efforts to locate the victims and apprehend the perpetrators.
The Police Commissioner urged residents of Affa Community to remain calm and provide credible information that could assist the security agencies in rescuing the remaining victims and bringing the suspects to justice.
Residents can report information through 08032003702, 08086671202, 112, 09134666668 or 09134448093, or via email at pproenugu@npf.gov.ng.
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