N100m CBN fraud: Staffers of 2 dept for dismissal

All staffers of the Trade and Exchange Control and Foreign Operations department involved in the N100 million foreign exchange fraud in the Central Bank of Nigeria have been recommended for summary dismissal.
The recommendation is contained in the report submitted to the CBN management by the disciplinary committee set up to look into the matter.
According to CBN sources, the disciplinary committee had taken evidence from those suspected to have been involved and who had already been suspended. The Republic had exclusively reported the fraud in its edition of August 21.
The initial Shed taking evidence last Wednesday, sources revealed. The Republic gathered that the committee strongly recommended that the matter be treated as internal and should not be taken outside CBN. The checking office under the trade and exchange control department is said to be mostly affected.
So far about 84 of its staffers have been suspended from office sources disclosed.

The office is concerned with checking and ensuring that the day to day administration of the country’s exchange control regulation as embodied in the foreign exchange control act of 1962 and the SFEM decree of 1986 are compiled with.
CBN sources said officials of th department are given various authorities to check and approve foreign exchange for applicants.
Officials involved in the alleged deal are already on suspension, it was gathered.

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