A new controversy is emerging within the presidency regarding a letter sent to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, from the Chairman of the Special Investigative Committee, Jim Obazee.
Dated December 22, 2023, the letter requested over N2 billion for various purposes such as surveillance, vetting, security, addressing black spots, monitoring hotels, and acquiring vehicles.
President Bola Tinubu appointed Obazee, a former chief executive officer of the Financial Reporting Council of Nigeria, in July 2023 to investigate the CBN and related entities.
Obazee, who was previously dismissed by President Muhammadu Buhari in 2017, conducted an investigation into the CBN during Sanusi Lamido Sanusi’s tenure.
In his appointment letter dated July 28, 2023, President Tinubu stated that Obazee would also be responsible for creating a comprehensive report on public wealth held by corrupt individuals and establishments.
As part of his duties, Obazee is tasked with strengthening key Government Business Entities (GBEs), preventing leaks in the CBN and related GBEs, and producing a detailed report on public wealth held by corrupt individuals and establishments.
Meanwhile, Obazee’s letter to Cardoso reads in part: “Please refer to our meeting with Mr President (with the Attorney General of the Federation and Honourable Minister of Justice in attendance) on December 20 2023, wherein Mr President directed that I forward my invoice, so far, to you on the ongoing investigation that I am leading.”
Obazee asked for N750,000,000 for “information sourcing, facts finding, synthesis and vetting.”
The Special Investigator asked for N800,000,000 for “surveillance, black sites, private security and prying eyes.”
For “logistics, outstation and team funding,” Obazee demanded N550,000,000.
Additionally, he requested N35,000,000 for “consumables, etc.” The total amount requested by the Special Investigator was N2,135,000,000, to be deposited into Premium Trust account number 0010080287.
CBN officials, who were concerned, shared a copy of the letter with SaharaReporters and questioned why the request was made when the central bank had already allocated funds for these activities.
One official said, “The duplication of efforts raises concerns about potential redundancy and misallocation of resources.”
“Moreover, there is uncertainty regarding Jim Obazee’s authority to conduct surveillance and investigations, particularly if he needs the credentials of a spy or professional investigator.
“The lack of clarity on the approval process for these tasks and fund allocation is already causing confusion, raising questions about who authorized these activities and why.”
