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Emefiele Sues CBN Investigator To Court Over Alleged Frauds

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Godwin Emefiele, the  former Governor of the Central Bank of Nigeria (CBN) has instituted a  court action against Mr. Jim Obazee, the former Chief Executive Officer of the Financial Reporting Council of Nigeria, who was appointed by President Bola Tinubu as a private investigator to probe CBN over alleged gross financial frauds.

Emefiele, in a statement minutes ago , seen by Ohibaba.com, said that the media reports headlined “Re: EMEFIELE , OTHERS STOLE BILLIONS, ILLEGALLY KEPT NIGERIA’S FUNDS IN FOREIGN BANKS,” published in the Punch Newspaper and Premium Times online news platforms, and credited to Mr. Jim Obazee, are ” false, misleading and calculated to disparage my person, injure my character and to serve the selfish interest of the private investigator.”

” I have instructed my lawyers to immediately commence legal process to clear my name from the defamatory statements contained in the report and by extension the publications,” he said . 

He explained: ” I have gone through the publications, and I say boldly that the contents of the said publications
are ” false, misleading and calculated to disparage my person, injure my character and to serve the selfish interest of the private investigator.

” Because of my present situation, I have been advised by my lawyers not to say anything in respect of the matters which have been submitted to the court for adjudication.

However, I need to addressed some of the issues raised in the publication which are barefaced lies told by the investigator in order to achieve his satanic agenda. 

First, it was reported that, contrary to the provision of the CBN Act 2007, there was no presidential approval for the Naira redesign.

I wish to state unequivocally that there was indeed a presidential approval, and the said approval was handed over to the same Jim Obazee during the process of his investigation in the presence of senior CBN officials and his own investigative team.

Moreover, the former President Muhammadu Buhari GCFR has stated on a number of occasions that he authorised and approved the Naira redesign. 

I am therefore at a loss as to why Mr. Jim Obazee will mislead Nigerians that there was no presidential approval.

The report also claimed that the sum of 6.23 million dollars was withdrawn from the CBN vault based on a false presidential directive bearing the signature of the former president Muhammadu Buhari GCFR, and that of the former secretary to the government of the federation (SGF), Mr. Boss Mustapha.

About two weeks ago, Jim Obazee in company of a certain Deputy Commissioner of Police from Force CID came to Kuje to ask me questions in respect of the said document in the presence of my lawyers. 

I am therefore at a loss as to why Mr. Jim Obazee will mislead Nigerians that there was no presidential approval.

I stated verbally and in writing that I have no knowledge of such directive from the former president and the former SGF.

Infact, I told them that that was the first time I would be seeing the documents.

On this, I challenge Jim Obazee to publish the said documents and also the statements that I made to them. 

The final issue that I will like to respond to is the issue of the 593 accounts which were purportedly opened in different parts of the world.

I state categorically that I am not involved in the opening of these accounts and I do not have knowledge of their openings. 

The fixed deposits in those foreign accounts are definitely outside my knowledge. 

However, let me state clearly, that the relevant departments of the CBN have the authority to carry out such activities in line with their lawful mandate within the CBN.

I therefore join well-meaning Nigerians who have spoken on this matter and have demanded a thorough and transparent investigation of all these alleged frauds.

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Governor Abiodun Welcomes Qatar’s Baladna multi-million dollar dairy factory in Ogun

“If you could meet 35% of Qatar’s milk demand in one month and achieve self-sufficiency in six, I have no doubt you can do the same in Nigeria. Your operations here will be a walk in the park—no deserts,”

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Qatari dairy giant Baladna is set to establish a multi-million-dollar food production facility in Ogun State, Nigeria

The investment is expected to boost local dairy production and food security significantly.

Baladna, which supplies over 95% of Qatar’s fresh dairy products, disclosed its plans during a courtesy visit to Governor Dapo Abiodun in Abeokuta.

The delegation was led by Baladna’s Head of Products and Solutions Architecture, Mr. Aidan Thomas Iynan, and accompanied by the Executive Secretary of the Nigeria Investment Promotion Commission (NIPC), Aisha Rimi.

Mr. Iynan revealed that Baladna’s integrated dairy model, backed by Qatari government investment, now operates the world’s largest single-site dairy farm.

He expressed confidence that Nigeria—and Ogun State in particular—could replicate similar success, citing a partnership with Algeria that is expected to deliver 1.7 billion litres of milk annually, meeting 50% of Algerian dairy demand.

He highlighted the impact of climate change on global agriculture, stressing the urgency for Nigeria to attain dairy self-sufficiency.

“We can build farms that are highly efficient with world-class yields—not just in dairy and meat, but crop production too,” Iynan said.

Governor Abiodun welcomed the investment, describing Baladna as the type of partner needed to realise the Renewed Hope Agenda in agriculture.

“If you could meet 35% of Qatar’s milk demand in one month and achieve self-sufficiency in six, I have no doubt you can do the same in Nigeria. Your operations here will be a walk in the park—no deserts,” he remarked.

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MultiChoice reduces prices for DStv subscribers by 50%

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MultiChoice Nigeria has slashed the price of its DStv decoder by 50 per cent, dropping it from ₦20,000 to ₦10,000.

The company announced that the move aimed to attract more customers and curb declining subscriptions.

According to the firm’s Chief Executive Officer, John Ugbe, in a statement released on Tuesday, the offer was a way of rewarding customer loyalty and delivering enhanced value to subscribers.

“We want to ensure our customers feel appreciated and have access to the best entertainment every day.

The ‘We Got You’ campaign is about making premium content more accessible and showing that DStv offers something for everyone, not just football fans.

“By repositioning itself as a platform for daily value, DStv aims to encourage content discovery across a wider array of genres, including movies, drama, kids’ programming, and news.

“This means more channels, more shows, and more reasons to tune in every day,” the statement added.

The company also announced a promotional offer granting subscribers a free upgrade to the next DStv package tier when they pay for their current plan in full between June 16 and July 31, 2025.

Multichoice maintained the price slash, and the free upgrade initiative is a response “to the noticeable economic impact on the everyday lives of Nigerians.

”This was coming after it lost 1.4 million subscribers between March 2023 and March 2025.

Recall that MultiChoice Nigeria increased its DStv and GOtv bouquet prices three times within 12 months — first in April 2023, followed by another hike in November 2023, and a third announced in April 2024, which took effect on May 1.

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JUST IN: MultiChoice Nigeria CEO Faces Arraignment by FCCPC for Obstructing Probe

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The Federal Competition and Consumer Protection Commission (FCCPC) will arraign MultiChoice Nigeria Limited, Chief Executive Officer, John Ugbe and other executives of the firm for impeding its investigation and failing to comply with lawful summons.

This is according to a charge sheet marked FHC/ABJ/CR/197/2025, filed by the FCCPC legal team led by Barrister Nsitem Chizenum.

This follows a May 8, 2025 ruling of an Abuja Federal High Court, which dismissed MultiChoice Nigeria Limited’s suit seeking to uphold its DStv and GOtv price increases in Nigeria.

Details later….

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