EFCC Arrests Two CBN Directors

The Economic and Financial Crimes Commission (EFCC) has arrested two directors of the Central Bank of Nigeria for alleged forex manipulation and economic sabotage. According to a report by The Punch, “A source at the EFCC, who wished to remain anonymous said, “We have arrested two directors of the CBN in connection with forex manipulation….”
Tolu
March 30, 2017 8:38 am

The Economic and Financial Crimes Commission (EFCC) has arrested two directors of the Central Bank of Nigeria for alleged forex manipulation and economic sabotage.

According to a report by The Punch, “A source at the EFCC, who wished to remain anonymous said, “We have arrested two directors of the CBN in connection with forex manipulation. We believe that it was the activities of these individuals that contributed to the dollar scarcity and the weakening of the naira.

“Ironically, immediately we started investigating these chaps a month ago, the CBN reeled out a new forex policy which sought to flood the market with excess dollar and strengthen the naira.

“Already, we have searched their houses and recovered some sensitive documents. We have reason to believe that they may not have acted alone. We expect to make more discoveries as investigations continue.”

“When contacted, the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, said no director of the apex bank had been arrested by the EFCC.”

Related Posts

See All