EFCC arrests CBN directors over forex manipulations

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Two directors of the Central Bank of Nigeria (CBN) were on Wednesday, March 29, arrested by officials of the Economic and Financial Crimes Commission.

According to an EFCC detective, incriminating evidence were recovered from the houses of the directors during a search operation The directors were arrested over alleged forex manipulations Two directors of the Central Bank of Nigeria (CBN) were on Wednesday, March 29, arrested by officials of the Economic and Financial Crimes Commission (EFCC).

The directors were arrested for alleged foreign exchange manipulation and economic sabotage.

The directors were still in custody as at 7.30 pm on Wednesday, March 29. An EFCC detective said incriminating evidence were recovered from the houses of the directors during a search operation.

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.

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,” the detective said.

However, the acting director of corporate communication department at the apex bank, Isaac Okoroafor said nobody was arrested by the EFCC. Okoroafor said

Recall that the CBN through its new intervention has succeeding in strengthening the naira which overtime lost value among other currencies. The intervention, the CBN governor Godwin Emiefele said will continue until naira sustains significant growth against the US dollars.

About The Author

Bariduanen Lemon is a Writer and Editor who intends to keep you informed and glued to events and activities around you .Follow me on Twitter@LemonBarry and Facebook on Barry Lemon.

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