CBN implicated in questionable $1.95 million (over N400m) US contract award

Posted by News Express | 11 June 2015 | 3,674 times

The Central Bank of Nigeria (CBN) has been accused of making a questionable $1.95 million dollars (over N400 million) contract award to Global Financial Integrity (GFI), a Washington DC, USA-based think tank.

A report yesterday by the US-based SaharaReporters said that the contract, “authorized by the CBN, hired GFI to investigate ‘oil theft and bunkering’ in Nigeria and missing remittances from the CBN under its former Governor Sanusi.”

The report said that the contract was awarded by the CBN without advertising it in Nigeria as required by law.

CBN Director, Corporate Communications, Ibrahim Mu’azu, did not respond to text messages sent to him by News Express seeking the apex bank’s side of the story.

•Photo shows CBN Governor Godwin Emefiele.