The Central Bank of Nigeria (CBN), investigators have discovered a humongous sum of $265 million in the bank account of a six-year-old child, sending shockwaves across the nation. The discovery has also highlighted the deep-rooted issues of corruption and financial mismanagement in the country.
According to sources, the investigation was part of a broader effort by President Bola Tinubu’s administration to address financial irregularities inherited from the previous All Progressives Congress, APC- led administration. The discovery was linked to the financial dealings of former President Muhammadu Buhari’s officials, particularly focusing on Sabiu Yusuf, popularly known as Tunde, who served as the president’s Personal Assistant.
The National Security Adviser, Nuhu Ribadu, had earlier, expressed grave concerns over the financial situation faced by the current administration, citing widespread looting during Buhari’s tenure as a major challenge.
The current administration, under Tinubu, has been negotiating with influential figures to facilitate the repayment of these funds, and trying to do so without attracting public scrutiny, thus underscoring the severity of corruption and the need for stringent financial governance in Nigeria.
The involvement of such a significant amount in a child’s account raises numerous questions about the ethical practices of individuals in positions of power and the mechanisms in place to prevent such occurrences. The CBN’s ongoing investigations have reportedly led to the recovery of over N12 trillion, indicating the scale of embezzlement and financial misconduct during the previous administration.
The uncovering of this account serves as a critical reminder of the importance of transparency and accountability in governmental and financial institutions and underscores the need for robust measures to combat corruption and promote ethical practices in all sectors.
