CBN: Reps Doubt ‘Integrity’ Of Audited Account, Invite KPMG

The House of Representatives has commenced a review of allegations contained in a report by former Special Investigator to President Bola Tinubu, Jim Obazee, on the 2025 audited financial statements of the Central Bank of Nigeria , CBN.
As part of the investigation, the House Committee on Delegated Legislation, chaired by Olufemi Richard Bamisile, wrote separate letters dated September 22, 2026, to the CBN, Obazee and the audit firms, KPMG and Ernst & Young (EY), requesting documents and explanations concerning the apex bank’s accounts.
The committee asked the CBN to submit its summary consolidated and separate financial statements for 2024 and 2025, alongside the full audited versions of the statements for both years.
It also requested Obazee’s eight-page analysis of the CBN’s 2025 summary consolidated and separate financial statements, saying he would be invited to appear before the committee to defend his findings and explain the alleged irregularities identified in the accounts.
In his letter to Obazee, Bamisile said the former special investigator had highlighted “a series of alleged irregularities” in the CBN’s financial statements and alleged that the CBN governor misled the National Assembly and the Presidency.
“In view of the gravity of these concerns, we respectfully request the full eight-page analysis and/or speech delivered at the event,” Bamisile wrote.
The committee’s action followed an eight-page speech reportedly delivered by Obazee at the commissioning of the Financial Reporting Council of Nigeria (FRC) headquarters in Lagos, where he raised concerns about alleged irregularities in the CBN’s 2025 audited accounts.
Bamisile said the CBN’s role as the government’s banker, regulator of the banking industry and a key institution in macroeconomic policy made the allegations too significant to be ignored.
He also noted that the integrity of the apex bank’s financial statements was important because they are relied upon by the Federal Government for policy and investment decisions and by foreign investors in assessing the Nigerian economy.
The committee chairman said it had not seen any public response or rebuttal from the CBN management regarding the issues raised in Obazee’s analysis since its publication on September 2.
The committee also wrote to KPMG and EY, requesting copies of the full consolidated and separate financial statements for 2024 and 2025.
According to Bamisile, the issues raised by Obazee also raise questions about the integrity of the audited documents, the CBN, its board of directors and the auditing profession.