A whistle blower, George Uboh, has challenged the plan by the
federal government to extend the appointment of the Governor of the
Central Bank of Nigeria (CBN), Godwin Emefiele.
Mr Uboh, a financial recovery agent, wants the court to revoke
the letter of Mr Emiefele’s re-appointment by the federal
government announced on Friday.
In the suit brought before the Federal High Court, Abuja
division, Mr Uboh said the federal government cannot ask the Senate
to confirm Mr Emiefele’s reappointment when a matter challenging
his stewardship at the central bank before the court had not been
decided.
According to copies of the suit seen by PREMIUM TIMES,Not
TheNigerialawyer Mr Uboh is accusing the CBN governor of conniving
with the leadership of the Nigerian National Petroleum Coporation
(NNPC) to defraud Nigerians.
In an affidavit deposed to by Martin Okoye, a lawyer at the
chambers of the applicant’s counsel, JohnMary Jideobi, the
applicant said Mr Emiefele connived with the NNPC to divert $24
million from funds accrued to Nigeria through the sale of petroleum
products in the country.
“In January, 2016, NNPC issued an instruction to the CBN; headed
by the Defendant to transfer $162, 064, 237.46 to CBN/JV Cash Call
Account 001-1-658-366 with JP Morgan and Debit CBN/NNPC Crude Oil
Revenue Domiciliary Account No. 400941775.
“That a closer scrutiny of “Exhibit GUWN 8” and “Exhibit GUWN 9”
clearly shows that while revenue from Gas may have been correctly
stated, that of Crude Oil was understated to the tune of Twenty
Four Million United States Dollars [$24, 000, 000.00].
“That the instruction of the NNPC directing the CBN to remit
$162, 064, 237.46 instead of the $186, 327, 246.02 it generated
clearly reveals the collusion of the Defendant with the NNPC to rip
the Treasury of the Federal Government and the FAAC of $24, 263,
008.56. Now shown to me and marked as “Exhibit SUIT 1.”
According to the charge; the applicant also said Mr Emiefele
diverted over $760 million from its record accrued foreign exchange
earnings.
“In 2017, the Central Bank of Nigeria (CBN) confirmed to have
sold forex to Bureau De Change (BDCs) at four (4) different
locations across the Federation, namely Lagos, Kano, Abuja and
Awka. The Apex Bank further confirmed that a total sum of Four
Billion, One Hundred and Fifty Nine Million, Nine Hundred and
Sixteen Thousand United States Dollars [$4, 159, 916, 000.00] were
sold to the BSCs in 2017.
“That despite the Apex Bank selling forex to the BDCs at the
rates of N360.00 to N381.00 per Dollar in 2017, it never declared
more than N304-N305 per Dollar. This occasioned a huge loss of over
N232 Billion Naira (which is an equivalent of $760 Million) to the
Federal Government’s Treasury from the forex sales of BDCs alone
representing exchange gains which should have been disclosed to the
Federation Accounts Allocation Committee [FAAC].”
The applicant is asking the Nigerian Senate to refrain from
affirming the appointment of Mr Emiefele given the stated
allegations.
Who is Mr Uboh?
Following an application in February 2016, Mr Uboh was employed
by the Nigerian government to “trace, recover and remit Federal
Government funds trapped in the under listed banks: Access Bank,
First Bank, Zenith Bank, Diamond Bank, Fidelity Bank, UBA, Union
Bank, Spring Bank-Enterprise Bank, Afribank-Mainstreet Bank,
Oceanic Bank-Ecobank, Bank PHB-Keystone, FCMB and WEMA Bank.”
Following his investigations; Mr Uboh released a report of funds
traced from the various banks to include 47.14 billion naira, 598.7
million dollars, and £23.5 million pounds.
A breakdown of the recoveries were listed as follows:
Despite the alleged recoveries, however, Mr Uboh’s appointment
was revoked in March that year by the Attorney-General, Abubakar
Malami, who accused Mr Uboh of “concealing a criminal past.”
Subscribe ToNairalaw News!
Read more lawyer-asks-court-to-nullify-emiefeles-re-appointment/