Some financial experts have advised the Federal Government to engage a consortium of audit firms to investigate the Central Bank of Nigeria, (CBN).
The experts spoke with newsmen yesterday in Abuja against the backdrop of the appointment of a private investigator, Osayande Obaze, the former Chief Executive Officer of the Financial Reporting Council (FRC), to probe the CBN.
Some stakeholders said that the law empowered the FRC to carry out such investigation, adding that going outside the FRC to appoint an individual could send the wrong message.
According to the Director, Institute of Capital Market Studies, Nasarawa State University, Keffi, Prof. Uche Uwaleke, it is not out of place for the president to commission an enquiry into the activities of the apex bank.
Uwaleke, however, said that a consortium of audit firms could be trusted to do a more thorough probe than a private investigator.
Also, a past president of the Chattered Institute of Bankers of Nigeria (CIBN), Okechukwu Unegbu, opined that specific personal considerations might influence a private investigator in carrying out the probe. According to him, Obaze has had issues with the apex bank since his time at the FRC, which could influence his verdict.
He said the Government needed to have engaged reputable audit firms to examine the CBN thoroughly.
Also, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Muda Yusuf, said that the investigation had become necessary to ascertain any infractions or abuse of office. According to him, a regular or forensic audit is the only way to get the facts out. It is not out of place.
Recall that President Bola Tinubu recently announced Obaze as a special investigator to probe the CBN. In a letter dated July 28, the president also directed the special investigator to take immediate steps to ensure the strengthening and integrity of crucial government business entities and block further leakages in the CBN and related business entities.
