Death Threats Escalate as Tinubu's Special Investigator Probes Dangote Group's $3.4bn Forex Fraud

In the wake of the recent launch of a probe into alleged illegal foreign exchange dealings and money laundering amounting to a staggering $3.4 billion reportedly carried out by the Dangote Group over the past decade, President Bola Tinubu’s appointed Special Investigator, Jim Obazee, finds himself facing an increasing barrage of death threats from anonymous callers, according to reliable sources.

Prior investigations by First News had already unveiled that Obazee, along with his family and team members, had been subjected to threats from unidentified vested interests, including influential figures within the powerful Aso Rock cabal.

However, these threats to Obazee’s life, his family, and his committee members have intensified significantly in the past few days, coinciding with the commencement of the investigation into the latest petition against the Dangote Group.

These threats have primarily been communicated through direct phone calls and SMS messages.

Impeccable sources reveal that these anonymous callers are demanding Obazee and his team redirect their investigative focus away from the allegations against the private conglomerate and other high-profile cases.

Instead, they are being pressured to discontinue the ongoing probe, with the callers making veiled threats against the lives of Obazee and his loved ones.

Furthermore, these anonymous callers have indicated their intention to use financial inducements to influence top Presidency and Federal Government officials into pushing for the termination of Obazee’s ongoing investigations.

Since his appointment, Obazee’s tenacity and determination have raised concerns among top officials of certain Federal Government agencies, as well as those in various Government Business Entities (GBEs) and influential individuals involved in the probe of the apex bank and the GBEs.

These entities have sought the help of powerful politicians within the Presidency to shield themselves from potential exposure by the Special Investigator.

Unable to intimidate or financially compromise Obazee, some Presidency officials who allegedly received substantial sums from those under investigation have resorted to discrediting Obazee’s integrity.

The Aso Rock cabal, in particular, has initiated a campaign to spread a rumor that Obazee received a substantial N8 billion from the embattled ex-CBN Governor, Emefiele, through a serving Senator from one of the South-East states.

The objective is to coerce Obazee into halting his investigation into high-profile corruption cases or exonerating those who have allegedly paid bribes to some officials.

Despite their inability to pressure or compromise Obazee, the cabal and other influential figures are determined to bring down Obazee and his team at any cost and persuade President Tinubu to disband the committee to conceal their misconduct.

Their ultimate goal is to prevent the Special Investigator from delivering his full report, which President Tinubu had promised during his Independence Day broadcast on October 1, 2023.

Remarkably, the work of the Special Investigator’s team has garnered international acclaim.

Sources have revealed that the massive fraud allegedly committed during the tenure of the former CBN governor, Emefiele, within many GBEs is now being uncovered by the Obazee-led Committee, and these revelations are expected to shock the nation.
The Special Investigator has traced approximately N8 trillion of looted funds from the CBN and GBEs to various bank accounts held by individuals and private businesses.

These findings are part of the preliminary report submitted by the Special Investigator to President Tinubu.

An estimated N400 trillion looted from the CBN is anticipated to be recovered by Obazee’s investigative team.

The alleged illicit forex dealings by the Dangote Group were purportedly facilitated with the complicity of the Central Bank of Nigeria under the former governor, Godwin Emefiele, and certain major commercial banks in the country (whose names remain undisclosed).

These entities aided the Dangote Group in transferring $3.4 billion in proceeds from their illegal forex dealings out of the country to foreign personal accounts over the past decade.

The investigation into the Dangote Group was initiated following a petition received by the panel from concerned Nigerian and social justice advocate, Ahmed Fahad.

Fahad had previously petitioned President Tinubu in August 2023, accusing the Dangote Group of gross financial misconduct and illegality, specifically, the abuse of CBN forex guidelines over the past decade.

The activist’s petition highlighted the diversion of $3.4 billion from Nigeria’s national treasury at rates well below the parallel exchange rate, a violation of CBN guidelines and a significant threat to the nation’s economic stability.

The illegal transfers were made through Form A, instead of the legal route through Form M, further compounding the financial misconduct.

The implicated banks were accused of defying CBN instructions by providing millions of dollars to the Dangote Group at CBN rates, rather than sourcing funds from the parallel or interbank market.

COTER, an anti-corruption group, has issued a warning to those attempting to sabotage the Special Investigator’s work, urging them to cease their efforts or face public backlash.

COTER has called upon President Tinubu to identify and address those intent on tarnishing his image and that of the Nigerian nation.

The group has also appealed to the President to provide the necessary support to Obazee’s team in carrying out their investigative tasks.
Dr. Peter Chima Chukwu, the President of COTER, expressed his concern over the attempts to hinder the Special Investigator’s work, emphasizing the importance of not yielding to blackmail from any source, regardless of their influence.

He urged Obazee and his team to persevere, as their work has garnered substantial positive attention and improved the nation’s image.

Chukwu concluded by emphasizing the need for a new era where the rule of law prevails over illicit privileges and economic justice becomes a cornerstone of the nation, urging President Tinubu to take swift action to rectify the financial violations and ensure the return of stolen funds for the betterment of the country.