The last has not had as the Central Bank of Nigeria (CBN) under it former Governor Godwin Emefiele transferred N400billion to former National Security Adviser (NSA) Babagana Monguno illegally.
It has been revealed that between August 2016 and November 2018, the Central Bank of Nigeria made a number of transfers totaling 6 million United States Dollars (more than N400 billion) to the office of the National Security Adviser (NSA) under Major-General Babagana Monguno (retd).
This unusual action reveals the murky business practises of the CBN under recently suspended Governor Godwin Emefiele.
Information collected from the CBN website revealed that the apex bank began making these transactions to the NSA in August 2016, or nearly a year into the tenure of the previous President Muhammadu Buhari.
CBN data back to 2004 shows that no such transfer was made in the years prior to that. But after the initial transfer, the procedure persisted each month until November 2018.
Since the CBN stopped publishing statistics about its operations in 2018, it is unclear if the odd payments continued. In November 2016, the single-largest transfer totaled $139 million.
$616 million is equal to N426 billion at the current currency rate in Nigeria, approximately one-third of the 2022 defence budget.
A source said, “Such outflows from the CBN to the office of the NSA raise a red flag and begs the question of what it was used for,” a former central bank official who did not want to be quoted said.
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