Deputy Governor, Directors suspended, Emefiele Queried
In what appears to be the first phase of a general audit, the President has moved against some directors of the CBN who are believed to have a hand in foreign currency round tripping and racketeering.

emefieleAccording to sources, the move to suspend them came after it was discovered that some insiders have been behind some of The fluctuations that have occasioned the country’s currency valuations have been traced to insider trading and speculations with some staff of the CBN benefitting financially from what has been happening while the country has been groaning.

Sources gathered that one of the three deputy Governors of the apex bank, three other directors as well as other top officials have been suspended while investigations have continued to determine the extent of their involvement.
Some other sources have whoever argued that there was another case of fraud involving some of the top shots and that the fraud was indeed yet to be executed before they were caught and suspended.
The Governor of the Bank, Emefiele, was also alleged to have been queried over the earlier issue of forex leakages which has made it difficult for planning among businessmen who need to source for hard currency to secure raw materials and other inputs for their businesses.

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