2 cbn directors arrested over Forex scam
Two directors of the Nigerian Apex bank, the Central Bank of Nigeria have been arrested by the Economic and Financial Crime Commission, EFCC in connection to the recent free falls of Naira currency against the dollars and other international currencies

Multiple impeccable sources revealed the director are still in the custody of the EFCC, Punch Newspaper reports this morning

An investigation into the CBN officials activities sent shockwaves round the apex bank, News Punch learned

The detective said the houses of the directors had been searched while incriminating evidence had been recovered.


According to Punch Newspaper, a source at the EFCC, who wished to remain anonymous said, “We have arrested two directors of the CBN in connection with forex manipulation. We believe that it was the activities of these individuals that contributed to the dollar scarcity and the weakening of the naira.

“Ironically, immediately we started investigating these chaps a month ago, the CBN reeled out a new forex policy which sought to flood the market with excess dollar and strengthen the naira.

“Already, we have searched their houses and recovered some sensitive documents. We have reason to believe that they may not have acted alone. We expect to make more discoveries as investigations continue.”

When contacted,  the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okoroafor, said no director of the apex bank had been arrested by the EFCC.

He said, “This is not true. No director of the bank (CBN)  has been arrested by the EFCC. The current activities of the CBN  in the forex market is a result of months of study, monitoring  and planning to tackle the activities of black marketers.

“We are succeeding and Nigerians are happy with us.  No amount of false rumours and concoctions to ridicule and sabotage the success we have achieved will make us lose our focus at this time.”

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