Gbaja, Faleke Approved CBN Ways and Means Which Obaze Accused Emefiele of abusing 

A Financial Investigation Initiative Group has recalled how the 9th House of Representatives led by Hon. Femi Gbajabiamila approved a loan request by former President Muhammadu Buhari to restructure the N22.7 trillion loan from the Central Bank of Nigeria extended to the Federal Government under its Ways and Means provision.

A national daily, reported on Friday that the Special Investigator on the Central Bank of Nigeria and Related Entities, Jim Obaze, in its report alleged that former Apex bank governor Godwin Emefiele, a minister and 14 others have been implicated in over N26.6 trillion fraud, and have been recommended for trial.

No fewer than 16 former government and CBN officials were alleged to have indulged in fraudulent use of ‘Ways and Means,’ which stood at N26.627 trillion.

Reacting to the claim, the Financial Investigation Initiative Group, in a statement by its Director General Ali Mustapha described the allegations as false, fabricated so as to have an excuse to continue a witchunt on an innocent man.

The group recalled how the immediate past speaker of the House of Representatives, and Chief of Staff to the President, Hon. Femi Gbajabiamila and Chairman House Committee on Finance, Hon. James Faleke on May 4, 2023 approved a loan request by former President Muhammadu Buhari to restructure the N22.7 trillion loan from the Central Bank of Nigeria extended to the Federal Government under its Ways and Means provision.

The House votes and proceedings of that day stated, “That the House do consider the Report of the Committees on Finance, Banking and Currency and
Aids, Loans and Debt Management on the Restructuring of Ways and Means Advances and approve the recommendations therein (Laid: 2/5/2023), approve the requested additional N1 trillion Ways and Means advances for the implementation
of the 2022 Supplementary Appropriation Act as passed by the National Assembly.

“Approve the Securitization of the total outstanding Ways and Means amount under the following terms: amount N23,719,703,774,306.90, Tenor 40 years
Moratorium on Principal Repayment 3 years, pricing/Interest Rate 9 percent per annum.”

The group alleged that the funding from that loan approval is being used by the present President Bola Ahmed Tinubu for which Mr Obaze the special investigator manufactured fake reports to blackmail and indict Emefiele for something that was approved by the federal government and national assembly.

The group also alleged that they are doing so in a bid to justify why Emefiele should be unjustly kept in prison detention despite being vindicated of any allegations by Obaze and the Department of State Services, DSS.

They therefore called urged the so called investigators to stop with the lies and release Emefiele unconditionally