The Economic and Financial Crimes Commission announced that Charles Soludo, a former Governor of the Central Bank of Nigeria (CBN), had nothing to do with bribery sacandal involving Securency Pty Ltd of Australia and officials of both the CBN and the Nigerian Security Printing and Minting (NSPM) Plc over the supply of polymer substrate to Nigeria.
Speaking at a press conference on March 23, 2015, in Abuja, Ibrahim Lamorde, EFCC Chairman, stated that after detailed investigation, the commission found out that Soludo was not involved into the matter. Therefore, the former CBN governor has been cleared.
It would be reminded that on October 1, 2009 the polymer bank notes were launched in Nigeria. As a result, the N5, N10, and N50 notes were remade in polymer material as against the original paper version. Shortly after CBN and NSPM officials were accused of receiving bribes to affect the switch to polymer.
In January 2013, the EFCC summoned Soludo who was at that time acting as Governor of CBN and chairman of the Board of NSPM. He had to clarify matters and state what he knew about the case. During the investigation the former CBN Governor consistently denied his involvement into the matter and any wrongdoing.
“I am impressed by the professionalism of the Commission especially in making the result of its investigation public. In early November last year (2014), I wrote to the Commission demanding for the outcome of the investigation, and it replied stating that its investigation did not establish any culpability on my part. I simply put the letter in my file.
“Well, I always knew that there was nothing to it as far as I was concerned, and I did not know anything about the said allegations. What impresses me is that the Chairman and the Commission have displayed professional integrity by making its findings public especially in the light of the negative publicity that attended my invitation and interview at the Commission in January 2013. I left office six years ago, and I believe that this is good for Nigeria.”
The Nigerian newspaper Next had reported extensively how Securency Pty, a bank note printing company owned by the Reserve Bank of Australia (RBA), was engaged in a series of bribery schemes to secure polymer note printing jobs.
According to an Australian newspaper, the Age, at least N750 million was paid in bribes to some Nigerian officials between 2006 and 2008 to secure the contract which saw to the initial supply of about 1.9 billion pieces of polymer substrates on which bank notes were printed.
After several international investigations over the activities of the bank note company some top management staff of the RBA and its sister company, Securency Pty, was dismissed and even arrested.
Nigeria’s anti-corruption agency conducted its own investigation, in which the EFCC interrogated several officials of the CBN and NSPM. While no official of the Central Bank has been indicted so far, the commission is in court with a former Managing Director of the NSPM, Ehi Okoyomon, over his alleged role in the bribery scheme.
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