EXCLUSIVE: Mixed reactions as Gbajabiamila is fingered in fresh scandal with Emefiele, Kuru

President Bola Tinubu is currently facing criticism over his Chief of Staff, Femi Gbajabiamila’s alleged indictment in corruption.

According to sources, Gbajabiamila was identified as one of the beneficiaries of the corruption uncovered under Ahmed Kuru, the CEO of the Assets Management Corporation of Nigeria (AMCON), and Godwin Emefiele, the former Governor of the Central Bank of Nigeria.

Gbajabiamila benefited from Ahmed Kuru’s “largesse of Ikoyi properties from his days as Speaker of the House of Representatives,” according to top presidential sources.

According to one of the sources, Gbajabiamila assured Kuru’s continued employment as AMCON’s CEO after roughly nine years.

New information has emerged about Godwin Emefiele and Ahmed Kuru, the AMCON CEO, conspiring in gross abuse of authority to buy banks of choice using public monies to fraudulently take over Polaris, Keystone, and Unions Bank.

This media got the Special Investigator’s findings on Emefiele’s probe, which revealed frightening amounts of public cash used in the fraudulent acquisition of banks under Emefiele and AMCON under Kuru’s supervision.

On January 10, Platinum Times reported that the Central Bank of Nigeria (CBN) disbanded the boards and management of Titan Trust Bank, Union Bank, Polaris Bank, and Keystone Bank.

This came after Jim Obazee, the Special Investigator on the Central Bank of Nigeria and Related Entities, delivered a report to President Bola Tinubu.

It was reported that the decision to disband the boards was made during a meeting between the CBN Governor, Yemi Cardoso, Obazee, and the boards of the four banks, including Titan Trust Bank’s investors, who had previously avoided meeting with the Special Investigator.

In December 2023, Platinum Times reported that the Special Investigator’s office insisted that Titan Trust Bank (TTB) Chairman Tunde Lemo, Mr Cornelius Vink, and Rahul Savara appear before it over the acquisition of Union Bank of Nigeria.

Meanwhile, SaharaReporters learnt on Monday that Obazee’s investigation uncovered a scheme by Emefiele (CBN) and Ahmed Kuru (AMCON) to invest N20 billion in Heritage Bank sometime in 2017, after which the bank granted a loan of N25 billion to the Sigma Golf Consortium of Emefiele, Kuru, Abu Funtua, Asega Alega, and Umaru Modibbo (as front) to acquire Keystone Bank.

The special investigator’s investigations revealed how the N25 billion government fund was moved from Heritage Bank to Access Bank and then to GTBank, where it was allegedly transferred to AMCON/CBN as payment for the Riverbank Sigma Golf Consortium’s acquisition of Keystone Bank.

The Riverbank Signa Golf Consortium was caught off guard by the Presidential and CBN directive to sack the boards of Union, Keystone, and Polaris Banks.

Independent financial investigations found that Ahmed Kuru blackmailed all government officials who had benefited from his generosity in sharing Ikoyi and Abuja properties in order to save his own neck.

A forensic observer remarked that the special investigator’s report, which did not indict Kuru, raised questions about whether it was intentional as part of a bargain.

“President Bola Tinubu is under pressure from some political associates, whom Kuru has soiled their white robes including the Hon Femi Gbajabiamila (President’s Chief of Staff), who has benefitted from Ahmed Kuru’s largesse of Ikoyi properties from his days as Speaker of the House of Representatives,” a source in the Aso Rock said.

The source noted that “Gbaja had persistently blocked Ahmed Kuru’s removal as AMCON’s Chief Executive after about 9 years in office, over two terms of a democratically elected President.”

An independent investigator sharing an opinion indicated that “It is clear that the only organ of government that has resources for criminal and forensic investigation of economic and financial crimes is the EFCC. The Jim Obazee Special Investigating team has only managed to point to areas of infractions but has not succeeded in forensic tracing and following of the money. It can only be strategic that the government hand all the cases over to the EFCC, remove Ahmed Kuru from office and switch around a few Directors in the Central Bank who without doubt may be complicit with Godwin Emefiele in this criminal conduct.

“Otherwise, with those actors in positions, they will continue to obstruct the investigation. You can see the limitations of the Presidential Special Investigators in the CBN establishment. Otherwise, Yemi Cardoso (incumbent CBN Governor) will remain in an invisible walled hostage environment of Emefiele’s network in the CBN, as Gbaja has surrounded the President with whispers of half-truths.”

Efforts to reach Gbajabiamila and Kuru failed as they did not answer their calls or reply to the text messages sent to their mobile lines.