Saturday, June 13, 2026
FB X LI YT
Breaking
ABIOLA AND THE ANCIENT JOURNEY OF JUNE 12 – By Dare Babarinsa, CON Otunba Bimbo Ashiru, Group Chairman of Oodua Investment Company Limited, speaks at the Think Yoruba First 4th Global Conference. A proud moment for Yoruba land as he addresses the gathering on regional unity and progress. Representative from the DAWN Commission speaks at the Think Yoruba First 4th Global Conference, addressing the gathering on regional integration, collaboration with Think Yoruba First, and the future of Yoruba land in a multipolar world. The event was held in partnership with the DAWN Commission. Otunba Deji Osibogun, Convener of Yoruba Koya Leadership and Training Foundation, speaks at the Think Yoruba First 4th Global Conference. He addressed the gathering on leadership development, grassroots mobilisation, and the urgent need to build the next generation of Yoruba leaders. Oba Francis Olusola Alao, the Olugbon of Orile-Igbon Kingdom, speaks at the Think Yoruba First 4th Global Conference. The royal father spoke on the critical role of traditional institutions in securing the nation and praised Think Yoruba First for their tireless work in advancing the cause of Yoruba land, declaring that the movement is the future of Yoruba progress and unity. “No One Is More Qualified Than Me” – Senator Dickson Declares Obi Not Doing NDC Any Favour Caribbean Nation Opens Doors: Grenada Grants Nigerians Visa-Free Access, Seeks Direct Flights and Investment Economic Invasion, Physical and Psychological Warfare on Yoruba Land
POLITICS

Emefiele Transferred N400bn Illegally to Ex-NSA, Moguno

July 1, 2023 • 2 min read

The suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has allegedly transferred N400 billion illegally to former National Security Adviser (NSA), Babagana Monguno, revealing questionable practices within the CBN.

According to recent revelations, between August 2016 and November 2018, the CBN made multiple transfers totaling over N400 billion (equivalent to 6 million US dollars) to the office of the NSA, headed by Major-General Babagana Monguno (retd).

These actions raise concerns about the transparency and legality of the CBN’s operations under the suspended CBN governor.

Information obtained from the CBN website indicates that these transactions began in August 2016, approximately one year into the previous administration of President Muhammadu Buhari.

CBN records dating back to 2004 showed no previous instances of such transfers.

However, after the initial transfer, this practice continued on a monthly basis until November 2018.

Due to the CBN’s discontinuation of publishing statistics about its operations since 2018, it remains uncertain whether these irregular payments persisted.

In November 2016, the largest single transfer amounted to $139 million.

At the current currency rate in Nigeria, $616 million is equivalent to approximately N426 billion, which represents approximately one-third of the 2022 defence budget.

A former central bank official, who preferred to remain anonymous, expressed concerns about these outflows from the CBN to the NSA, raising questions about the purpose and usage of the funds.