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Home Business News Business

Boss Mustapha counters alleged $6.3 million CBN vault looting, demands probe 

Cyrus Ademola by Cyrus Ademola
December 24, 2023
in Business, Financial Services, Sectors
Boss Mustapha counters alleged $6.3 million CBN vault looting, demands probe 
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Boss Mustapha, the former Secretary to the Government of the Federation, has denied claims of his participation in the purported unauthorized withdrawal of $6.3 million from the Central Bank of Nigeria (CBN) vault during Buhari’s tenure. 

His statement comes following the purported report of the special panel tasked with probing the CBN.  

According to the report, money taken from the foreign payments office at the CBN’s Abuja branch was claimed to be allocated for foreign election observer missions. 

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The investigator’s report, cited by several publications, asserted that CCTV footage showed how the money was moved from the apex bank. 

However, Mustapha, in a strongly worded statement made available to journalists on Saturday, categorically refuted the accusations, calling them “outrageous and unsubstantiated.” 

He characterized the article as a “malicious fabrication” and an “orchestrated” effort to tarnish “my character and smear my reputation.”  

What Mohammed is Saying  

The former SGF emphasized his lack of awareness regarding the alleged “Presidential Directive” mentioned in the report as the basis for the withdrawal. 

The ex-SGF insisted on a comprehensive and open inquiry into the issue, calling on authorities to investigate the origin of the forged documents and unveil those responsible for the alleged “smear” campaign. 

  • “The article hinges on the dubious premise of forged documents and a misleading narrative. It claims that $6.3 million was withdrawn from the CBN vaults based on a purported “Presidential Directive” bearing the signature of President Buhari. This document, unsurprisingly, has not been presented for public scrutiny. In fact, I have no knowledge of such a directive, nor was I ever involved in any discussions or transactions regarding the alleged payment to foreign election observers. 
  • “I demand a thorough and transparent investigation into this matter. Let the relevant authorities probe the source of these fabricated documents and expose those responsible for this malicious attempt to damage my reputation. I have nothing to hide and welcome any legitimate investigation that sheds light on the truth. 
  • “This is not just about me; it is about upholding the integrity of public service and safeguarding the reputation of those who have served this country with honour. I trust that the Nigerian people will see through this orchestrated attack and recognize it for what it truly is: a desperate attempt to silence a voice of reason and integrity,” he said.  

What you should know 

  • A leaked report by the Special Investigation on the Central Bank of Nigeria suggests that financial and legal irregularities occurred under the leadership of Godwin Emefiele, raising questions about the operations of the CBN. 
  • The report titled REPORT OF THE SPECIAL INVESTIGATOR ON CENTRAL BANK OF NIGERIA (CBN) AND RELATED ENTITIES (Chargeable offences) has been circulating online.  
  • The allegations in this report against CBN officials, including the former Central Bank Governor Godwin Emefiele, who is presently facing EFCC charges of fraud, cannot be independently verified by Nairametrics. Accusations also extend to deputy governors who served during Emefiele’s tenure.. 
  • The report further alleged that Mustapha, along with the embattled former CBN Governor, Godwin Emefiele, authorised the removal of the cash from the bank’s vault under the guise of funding foreign election observer missions. 
  • The Investigator’s report, as quoted by many publications, claimed CCTV footage captured how the money was moved out of the apex bank. 

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Tags: Boss MustaphaCBN
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

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