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BREAKING: Ex-CBN Governor, Emefiele Refunds N4Trillion Embezzled Money



BREAKING: Ex-CBN Governor, Emefiele Refunds N4Trillion Embezzled Money

The former Central Bank of Nigeria (CBN) governor, Godwin Emefiele allegedly refunded looted N4trillion to the federal government.

According to reports, the ex-CBN Governor, Emefiele refunds N4 trillion, Lemo $500m, as special investigator officer, Obazee, recovered N12 Trillion from looted money, Jim Osayande Obazee, the Special Investigator to investigate the Central Bank of Nigeria (CBN) and related entities, has recovered over 12 trillion looted mostly by members of the former president Mohammadu Buhari’s administration.


Additionally, Another X user (june12 Mandate @Gen_buhar), shared wrote: “Shocking: Emefiele refunds N4tr, Lemo $500m, $275m and N1.9 tr found with Buhari’s P.A.”

However, PRNigeria, a fact-checking team, examined various sources but found no reputable media platform reporting such forfeiture by the ex-CBN governor. While some sites stated that, it was not backed by trusted and verifiable news sources.

Ude tweeted: “Jim Osayande Obazee, the Special Investigator to investigate the Central Bank of Nigeria (CBN) and related entities, has recovered over N12 trillion looted mostly by members of the former President Mohammadu Buhari’s administration. The former CBN Governor, Godwin Emefiele, allegedly returned N4 trillion, gave up ownership of six banks linked to him, while a Deputy Governor, Tunde Lemo, refunded $500 million. The Committee has also rejected several millions of Dollars in bribe offers from former members of the Buhari’s Government”.


The Ministry of Finance also confirmed that they have no record of such a significant refund.

In addition to the news, Emefiele’s family described the report as false and an attempt to tarnish his reputation. Comparing the CBN’s operating income and expenditures, the alleged N4 trillion refund is much higher than the annual income of the central bank.

This is another lie. Same pattern of lies they have been writing about Godwin Emefiele to destroy his name and reputation. If you follow his persecution, you will clearly see that it is a case of pure witch-hunting and harassment of someone who served this country to the best of his ability. People know the truth. The world knows what is going on. His sin is the Naira redesign policy, which former President, Muhammadu Buhari, has said he approved to protect our elections from vote buying and fraud.


“Nigeria just passed a N2.1 trillion supplementary budget that is being funded by borrowing. Will it need to borrow if it has such so-called refunded money?” said a family source.

Further investigation by PRNigeria showed that the 2022 operational income of the apex bank was N2.15 trillion, including the “credit loss expenses of N875bn, of which N610bn was part losses linked to loans and receivables;” according to Budgit Foundation reports on CBN financial statements.

The audited financials of CBN put the apex bank “net operating income at N1.2 trillion compared to N1.1 trillion in the same period in 2021. Total operating expenses also rose from N1.1 trillion in 2021 compared to N1.2 trillion in 2022.


“Another verification equally revealed that CBN “spent a total of N1.2 trillion on personnel costs in seven years and recorded a net income of N520.04 billion,” the Nairametric reported.

During the circulation of this claim, Emefiele was still in custody with no verified reports of an official plea bargain.

However, there were rumours suggesting a plea bargain was being negotiated, with reports of a possible return of funds.


Emefiele was granted bail by a Federal High Court in Abuja, and his arraignment by the Economic and Financial Crimes Commission (EFCC) was on six counts of N1.6 billion, not N4 trillion.

Meanwhile, the investigation conducted by PRNigeria, there is insufficient evidence to substantiate the claim that Godwin Emefiele refunded N4 trillion of looted money.

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Today’s Update

February 2024


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