How NIRSAL, CBN Top Shots Hid Billions of Anchor Borrowers Funds in Fixed Accounts

Heads are set to roll, this is as tension has now gripped top management of CBN and NIRSAL as the Jim Obazee-led team of investigators unravel fixed accounts where multi-billion naira originally designated for the Anchor Borrowers Scheme were diverted, ENigeria Newspaper reports.

This investigation reveals major financial crimes committed by Godwin Emefiele the disgraced former governor of the Central Banks of Nigeria (CBN) and his cronies while he held sway in the nation’s apex bank.

Emefiele and cronies according to information received by ENigeria Newspaper which in turn contained in the investigation published below allegedly siphoned billions of naira originally meant for the much talked about Anchor Borrowing scheme for farmers which characterized the purported achievements of the Buhari administration and rather than disburse the money, they preferably hid them in separate fixed deposit accounts and invested many of them in treasury bills.

As asserted by President Bola Ahmed Tinubu, the financial system under Godwin Emefiele is indeed “rotten”. ENigeria Newspaper has also published some of the excesses of Emefiele which includes the opening of a forex credit line for his allies which allegedly includes the likes of Aliko Dangote of Dangote Group, Abdul Samad Rabiu of BUA Group and a list of many others.

The ENigeria Newspaper report which rattled the management of BUA into sponsoring a half-truth statement in the media – one laced with lies and blackmail exposed with account numbers of how the Emefiele-led CBN’s alleged forex credit line enables Abdul Samad Rabiu-led BUA Group to borrow forex at the official rate of N199 at the time, resell at a black-market rate of N495, and rake in billions of naira in turnover in quick succession. READ IT HERE

Obazee-Led Investigative Team of Experienced Hands Including the Police…

Not many were happy when Jim Obazee was named by President Bola Ahmed Tinubu as the private investigator mandated to probe the activities of Godwin Emefiele-led Central Bank of Nigeria.

However, Sources who spoke to ENigeria Newspaper maintained that President Tinubu was convinced that Obazee, a thorough-bred financial expert with vast knowledge of financial operations in Nigeria would deliver.
Not long after Obazee swam into action than the rote under Emefiele began to be exposed throwing many billionaires into panic for fear of being exposed and prosecuted.

Daily Trust reports that in a letter dated July 28, Tinubu said the appointment of Obazee, relying on the fundamental objective outlined in Section 15(5) of the Nigerian Constitution, was in furtherance of his administration’s anti-corruption fight.

The appointment of Obazee, who was the chief executive officer of the Financial Reporting Council of Nigeria (FRCN) until 2017, was with immediate effect even as he was asked to report directly to the president.

Daily Trust gathered that following his appointment, the Special Investigator in a letter dated August 18 wrote to the Inspector General of Police requesting for the deployment of four senior officers to his office to facilitate the smooth take-off and execution of his assignment.

In response, the IGP conveyed approval in a letter dated September 6 and signed on his behalf by CP Abaniwonda S. Olufemi. The letter titled, ‘Deployment of Police Personnel’ with reference numberTH:5361/FS/FHQ/ABJ/T.5/428, listed the deployed officers as DCP Eloho Edwin Okpoziakpo; CSP Celestine Odo; CSP Segun Aderoju and DSP Tijani A. Bako.

How Obazee and Team Discovered the Multi-billion Naira NIRSAL, Anchor Borrowing Scheme Fraud of Emefiele and Cronies…

ENigeria Newspaper reports that so far startling preliminary intelligence by the investigator’s team headed by DCP Eloho Edwin Okpoziakpo under the watch of Obazee is already sending jitters down the spines of the top management staff of the CBN and the Nigerian Incentive Risk Based Risk Sharing System for Agricultural Lending (NIRSAL).

Among other intelligence DCP Eloho and his team are said to have developed is that on NIRSAL and the Anchor Borrowers Programme which have over the years been at the center of investigations.

President Tinubu recently gave a marching order that all funds allocated to these agricultural programmes be recovered.

Daily Trust had investigated multiple corruption allegations that rocked NIRSAL under the former Managing Director, Aliyu Abbati Abdulhameed, who was fired by ex-President Muhammadu Buhari in December last year.

It was further gathered that the investigators are also set to unravel how the Anchor Borrowers Funds were being kept as fixed deposits by parties close to the embattled CBN governor.

An insider confided in Daily Trust that some of the individuals involved in the fixed deposits (names withheld) are currently in panic mode, including an aide of the ex-CBN governor who is said to have operated a total of 61 bank accounts that included 44 fixed deposit accounts and 2 treasury bills accounts.

Apart from investigating the N5.6 billion wheat project scandal in Kano and Jigawa states, a source confided in Daily Trust that the investigators would also probe the alleged allocation of about 600,000 monthly for the upkeep of the former MD’s dogs.

Destruction of files, and records at NIRSAL For Cover Up

Daily Trust gathered that the intelligence being developed by DCP Eloho and his team which is said to be causing sleepless nights to the top management at the CBN and NIRSAL has to do with the investigation of some contracts at NIRSAL, as well as the Anchor Borrowers Programme by the Inspector General of Police.

This is said to have led to the destruction of office files and records to scuttle the ongoing investigation of NIRSAL by DCP Eloho and his team. Sources familiar with the investigation said among the destroyed office documents is a contract for the development of the ICT Policy.

“Although financial trails show payments made multiple times for the same contract, the record of this contract has disappeared from NIRSAL’s procurement department,” an insider who wouldn’t want his name mentioned said.

Another source told Daily Trust that unless the investigation team deploys ways and means of obtaining the necessary contract records and documents, they may have hitches getting into the root of the matter.

Contacted by telephone, the Head of Procurement at NIRSAL, Sheriff Salaudeen, said the organization does not destroy its files or other records.

He, however, declined further comments, insisting that he would only do so if a written request is communicated to NIRSAL.