Former Deputy Governor of the Central Bank of Nigeria, CBN, Mr. Kingsley Moghalu, has denounced what he described as the media trial of a former Governor of the apex bank, Godwin Emefiele, and other persons cited in the special investigator report.
Moghalu’s caution was in response to the publication of the report of the Private Investigator into the affairs of the CBN, Mr. Jim Obazee, which claimed that there was no presidential approval for the Naira redesign programme, besides other infractions the report alleged.
Reacting, Moghalu in a statement said that the leakage and circulation of the report of the special investigator was not how a report into the CBN should be handled.
Moghalu said: “I have seen in the mainstream media, and floating around on social media including WhatsApp, a report purported to be that of the CBN Special Investigator appointed by President Tinubu.
“I have some comments on this development.
“The ‘report’ has no signature appended, so we can’t assume it is the real and official report.
“Assuming it is, in fact, the real report, it’s wrong for such a sensitive report to have ‘leaked’ to the public before the President and his government have reviewed and spoken to it.
“This is because the ‘report’ talks of ‘chargeable offences’ and mentions specific individuals it recommends to be prosecuted in addition to Emefiele.
“This is a media trial and prejudices the rights of these individuals named or referred to. This is NOT how a report into the Central Bank of Nigeria should be handled.
“The central bank of any country is a very sensitive institution and confidence (or the lack of it) in the institution has practical consequences on the ground for Nigeria’s economy.
“As much as the Bank and its leaders ought to be accountable for their official actions, we must consider the continuing damage this kind of sensationalism (which, knowing our country, nothing much is likely to come of it at the end of the day) does to Nigeria’s economy, image, and the institution of the CBN itself.
“When it comes to law, allegations are simply allegations unless and until proven in a court of law,” Moghalu added.
