PERSPECTIVE – Corruption: Another cabal takes charge in CBN

PERSPECTIVE – Corruption: Another cabal takes charge in CBN

By John Omoile

The corruption of the Central Bank of  Nigeria (CBN) by influential individuals will have a lasting impact on the pages of history.

The Yoruba cabal has now assumed control, as it is their turn to wield power. The ownership of our oil in the Niger Delta is no longer exclusive to us. Tinubu’s government may even surpass Buhari’s in terms of incompetence, and now a group of individuals with questionable backgrounds holds sway. This is the current state of Nigeria. According to spokespersons, Tinubu’s deceptive strategies are just beginning.

They have announced that the UAE recently abolished visas for Nigerians. However, the UAE is now refuting this claim.

They have also declared that Indians will bring $14 billion for investment, based on their recent participation in the G-20 meeting. We have no evidence regarding the identity of these Indians or their investment plans. Furthermore, the Indians currently in Nigeria are facing accusations of $60 billion round-tripping fraud.

The investigation into their alleged involvement is still ongoing, and the past financial scandal involving the Vaswani brothers, as highlighted by OBJ in 2003, remains unresolved. Who is Tinubu trying to deceive? Himself.

What a disgrace. Unfortunately, the plan to remove Emefiele and all deputy governors has been successfully executed. If Tinubu is genuinely committed to investigating Emefiele’s tenure as CBN governor, he should either release Emefiele or have Buhari arrested.

The Nigerian economy will face grave consequences if the Buhari cabal is not also apprehended, in order to uncover the full extent of the mess.

Emefiele has long used propaganda and media manipulation to portray our foreign reserves as strong, but JP Morgan Chase has proven these claims to be false. It is truly unbelievable that $32 billion can disappear from a country’s foreign reserves without any explanation.

Nigeria’s fate will be determined next week, as the currency forwards of $12 billion become due.

The potential new CBN governor may be even more disastrous than Emefiele. Tinubu has skillfully positioned his former associates from Lagos in influential positions within the Nigerian government’s financial institutions. Consequently, individuals involved in corruption through Alpha Beta for many years now hold key roles, and it is anticipated that they will continue engaging in corrupt practices in Abuja. Owambe parties will become even more extravagant because, once it is all said and done, Nigerians may come to realize what they have missed about Buhari.

We are living in trying times.

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