The Presidency has defined how former Governor of the Central Financial institution of Nigeria, CBN, Godwin Emefiele, succeeded in taking billions from overseas reserves with out the approval of ex-President Bola Tinubu.
President Bola Tinubu’s spokesperson, Ajuri Ngelale, mentioned Emefiele succeeded in depleting Nigeria’s overseas reserve as a result of he was the then CBN governor and the chairman of the apex financial institution’s board of trustees.
In an interview with TVC, Ngelale mentioned Emefiele was unchecked as a result of he was accountable for most of CBN’s operations.
He mentioned: “What was performed regarding the expenditure of billions of {dollars} from the overseas reserves was performed largely with out the approval or information of President Muhammad Buhari and President Bola Tinubu.
“Sure, that may appear onerous for some folks to imagine, however I need to clarify how that would have occurred.
“We’ve one of many few Central Banks on this planet the place the day-to-day CEO was the governor of the Central Financial institution and was additionally the chairman of the board of administrators. He was primarily overseeing himself.”
