The Economic and Financial Crimes Commission, EFCC has arrested two directors of the Central Bank of Nigeria, CBN for asserted forex manipulation and economic damage.
EFCC source implied Wednesday night that the executives were still in authority as of press time at 8.30pm, an investigation which has officially sent shockwaves round the apex bank.
The detective said the houses of the directors had been searched while implicating proof had been recouped.
“We have arrested two directors of the CBN in connection with forex manipulation. We
believe that it was the activities of these individuals that contributed to the dollar scarcity and the weakening of the naira.
“Ironically, immediately we started investigating these chaps a month ago, the CBN reeled out a new forex policy which sought to flood the market with excess dollar and strengthen the naira.
“Already, we have searched their houses and recovered some sensitive documents. We have reason to believe that they may not have acted alone. We expect to make more discoveries as investigations continue,” a top EFCC operative said.
Nonetheless, Isaac Okoroafor, the Acting Director, Corporate Communications Department, CBN, said no executive of the apex bank had been captured by the EFCC.
"This is not valid. No director of the bank (CBN) has been arrested by the EFCC. The present activity of the CBN in the forex market is a consequence of months of study, checking and wanting to handle the activities of black marketers.
“We are succeeding and Nigerians are happy with us. No amount of false rumours and concoctions to ridicule and sabotage the success we have achieved will make us lose our focus at this time.”
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