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CBN investigator probes banks over N1.2 trillion intervention funds

Written by on October 9, 2023

The Chief Executive Officers and top management staff of banks may also be probed during the ongoing investigation of the activities of the Central Bank of Nigeria.

It is understood that some bank CEOs would be invited in an effort to ascertain any discrepancies around the management of intervention funds by deposit money banks.

The Central Bank of Nigeria may be asked to withdraw its audited annual financial reports, which were recently released.

This came after a team investigating the apex bank discovered discrepancies and irregularities in the financial accounts.

In August, the CBN released its financial accounts for the years 2016 to 2022 amid an ongoing probe of the financial services sector regulator by a Special Investigator appointed by President Bola Tinubu.

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