Godwin Emefiele: DSS Arrests Top CBN Director At Retirement Party

• The DSS has arrested a top finance director, Benjamin Fakunle, at his retirement party in Abuja on Wednesday
• Fakunle was arrested in connection with his role in the published seven-year accounts of the CBN audited, which did not follow the stipulated guidelines
• The outgoing director was expected to explain how and why N401 million was used for the publication without following the international standard

FCT, Abuja - The Department of State Service (DSS) has arrested and detained an outgoing Finance Director of the Central Bank of Nigeria (CBN), Benjamin Fakunle.

According to Business Day, the arrest of the retiring director was in connection with his role in the recently published seven-year accounts of the CBN audited. It was alleged that the published report did not follow the stipulated guidelines for accounting and reporting.

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The newly retired director of the apex bank was among the top officials of the bank who were arrested and interrogated by Jim Obazee, the appointed special investigator of President Bola Tinubu, who has sustained the investigation of the CBN.

Fakunle was reportedly arrested at his retirement party on Wednesday, September 13, in Abuja and has since been detained.

Why DSS arrests finance director of the CBN

According to reports, the former director was to answer questions on how and why the accounting guidelines allegedly deviated from the International Financial Reporting Standards (IFRS). Such was used to prepare the published CBN accounts.

He was also expected to explain why N401 million was allegedly paid for the document, contrary to the rules of the Financial Reporting Council of Nigeria.

President Tinubu appointed an Obazee-led special panel in late July to probe the activities of the apex bank following the arrest and prosecution of the suspended CBN Governor, Godwin Emefiele, for an alleged financial infraction.

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"For eight years, we're living on a fake lifestyle": Sanusi on Tinubu vs. Buhari

Legit.ng earlier reported that the former Emir of Kano State and grand Khalifa of the Tijjaniyah group in Nigeria, Muhammadu Sanusi, blamed former President Muhammadu Buhari for Nigeria's economic hardship.

Sanusi, a former CBN governor, said no economic expert with adequate knowledge of monetary policy would say President Bola Tinubu has not done the right thing.

The economist said President Buhari ignored his advice on how to rescue Nigeria before the country plunged into this economic crisis.

Source: Legit.ng