Image: CBN governor Emefiele takes orders from Ismaila Isa Funtua
Ismaila Isa Funtua, a crony of President Muhammadu Buhari, is working with the cabal to further cripple the already lame Nigerian economy. He and the cabal receive about $800m every week which should be in circulation among BDCs from the Central Bank Governor Godwin Emefiele.
You will recall that The Emir of Kano and former Central Bank governor, Lamido Sanusi, had once alleged that the bank was creating billionaires through “forex subsidies”. He claimed that the previous administration of Goodluck Jonathan created billionaires through oil trading, while the current one was all about trading in foreign exchange.
Funtua is the chairman of Bulet International Construction Company, which was involved in the development of the new capital in Abuja in the late 1980s and early 1990s, and a close friend of Buhari.
A few sources have claimed that current Central Bank governor Godwin Emefiele owes his position to keeping powerful forces like Funtua and the Chief of Staff Abba Kyari happy.
A source revealed to LeadersNG that Prof Osinbajo discovered this fraud during the absence of President Buhari and cut the amount given to Funtua to $500m in a bid to save the economy. The Acting President rather put the $300m in the economy and it is believed that his action has managed to sustain Nigeria’s economy the way he met it in the hands of President Buhari and Kemi Adeosun.
What is even more shocking is that our sources also told us Isa Funtua and the cabal have been receiving this $800m every week since the beginning of the Buhari administration until Yemi Osinbajo reduced it to $500m.
Economic analysts have told LeadersNG that dollar will sell as low as N250 in 3 months or even less if these monies are circulated among BDCs instead of giving it to the Cabal.
Earlier this year, LeadersNG had exclusively reported a major forex fraud in the CBN where cronies to the Government in power were getting dollars at ridiculously low rates while others were getting it at a high price. This price imbalance led to a near shut down of the Nigerian economy which was at the peak of the recession. A Civil Society Group had earlier carried out an #OccupyCBN rally to further decry the damage of the forex policy on the average Nigerian.
The CBN circulates only $25m weekly among BDCs to meet the ever increasing demand for forex as the country’s economy struggles to raises its head above the tide of recession.
With Buhari’s continued absence and Yemi Osinbajo’s lack of political will, the Hyenas and Jackals will continue to eat deep from the pockets of Nigeria’s corruption money. Isa Funtua’s role in the desecration of Nigeria’s economy will be written in history books.