CBN under Emefiele transferred N400billion to former NSA Monguno illegally

BusinessDay reported that information collected from the CBN website revealed that the apex bank began making these transactions to the NSA in August 2016, or nearly a year into the tenure of the previous President Muhammadu Buhari.

Since the CBN stopped publishing statistics about its operations in 2018, it is unclear if the odd payments continued. In November 2016, the single-largest transfer totaled $139 million.

A source said, “Such outflows from the CBN to the office of the NSA raise a red flag and begs the question of what it was used for,” a former central bank official who did not want to be quoted said.

Another source said: “More than half a billion dollars cannot move from the CBN to the office of the NSA without the approval of the president who ironically detained (Sambo) Dasuki for misappropriation of funds.”