Ex-SGF Boss Mustapha Accused of Looted $6.3 Million for Alleged Election Observer Payments, Calls for Prosecution of CBN Executives

Jim Obazee, the Special Investigator appointed by President Bola Tinubu to scrutinize the Central Bank of Nigeria's management under Godwin Emefiele, has recommended the trial of former Secretary to the Government of the Federation (SGF), Boss Mustapha, and 12 top executives of the apex bank. The accusation revolves around the fraudulent withdrawal of $6.23 million from the CBN, purportedly for payment to foreign election observers.

Obazee disclosed that the alleged amount was removed from the vaults of the Foreign Payments Office, Abuja Branch, of the CBN between February 7 and February 8, 2023, as captured on CCTV footage. The investigator claims the withdrawal was executed based on a letter dated January 23, 2023, bearing the signature mark 'Muhammadu Buhari,' instructing the payment for foreign election observer missions.

Further investigation revealed subsequent letters, dated January 26 and January 31, 2023, directing CBN Governor Godwin Emefiele to effect the payment. The Special Investigator contends that the fraudulent withdrawal was exposed on December 4, following a Request for Information issued to CBN management.

Accusing Mustapha and other government officials of forgery, concealment, conspiracy, and fraud, Obazee disclosed that two top CBN officials are already in custody over the incident. He called for the prosecution of directors, deputy directors, assistant directors, and branch controllers involved in the fraudulent cash withdrawal.

The investigation sheds light on potential concealment by officers occupying positions around the period of February 7 and 8, 2023. The revelations raise concerns about the integrity of the financial operations within the CBN and the alleged misuse of funds intended for foreign election observers.