How last minute effort by Funtua saved Emefiele’s job as CBN Governor

Call him Harry Houdini of Nigeria, not many have heard of a tall and imposing man called Ismaila Isa Funtua.
But he’s now very wealthy such that he’s considered one of the richest Africans despite having his biggest company Bullet going bankrupt before Buhari became president.

Funtua’s physical imposing figure also has added influence to his control and manoeuvring through scheming and team playing of a man described as a shrewd negotiator.

Yes, it’s that shrewd negotiations that made the almost gone Central Bank of Nigeria’s Governor, Godwin Emefiele to put all his fate in this man’s hand. And he didn’t fail to deliver albeit a 100% condition: When I speak, you listen, to which the beleaguered Emefiele noded with out wasting a second, a source watching when the meeting was consummated alleges.

In fact, there has been a picture of a compromised Emefiele bending awkwardly by his side while fiddling with his phone but paying rapt attention to an instruction being dished out while the Minister of Interior, Abdulrahaman Danbazzau pretended to be operating his phone.

That was the clear sign that for Emefiele to continue to be at the apex bank, only one man, only him, the feared and ‘total control man’, Funtua would decide.

Funtua controls the forex policy of CBN and gets whatever amount of any currency he wants. He also tells Emefiele who to give and it’s done.

Majority of the Bureau de Change operators in Wuse Zone 4, Abuja, housing one of the largest BDCs in Nigeria said, “If you want dollars at lowest exchange rate, call Funtua.”
In fact, a man who preferred to be identified as ‘Alhaji’ told Daily Mail, “Baba Funtua is Mr CBN dollars,” laughing sheepishly.

Funtua did not just foray into the arms of President Muhammadu Buhari, who an Aso Rock insider said fears this tall huge man. He’s a personal, a very personal, friend of Mr Buhari. He enjoys unimpeded access to the President and advises him on all things. In fact, he calls a shot and has grown to building network of influential and wealthy people for Buhari, bringing them in as his ‘Friends of Buhari’ to exist for a lifetime.

He’s also in charge of building huge fortune of businesses and other financial world for the Buhari family.
Such is his influence and role that whenever he speaks, the President and all those around him listen.
Very imposing and influential indeed.

And he brought that to bear with a snap of the finger to keep Emefiele at the CBN.
One of the simplest reasons an insider revealed was that a lot of rot has been committed at the CBN. Should another person gets in there, no matter his closeness to the President, if he doesn’t know the nitty gritty of concealing the dirty deals, a lot would be exposed.

Therefore, it was easy to inform the President that, “This is our man, he’s doing a nice job.”
All those collecting heavy forex surround the President and they are his closest allies. They formed a troika within and call the shot. Each has his role.
With no formal role, Funtua calls the shot within the forex world with no one controverting or haggling.

Funtua it was allegedly reasoned that, it was better for Emefiele to remain at the helm of affairs even if the rot would be discovered. If indeed it happens, the President would easily fire him. So he’s being held as a possible Fall Guy.

It was further alleged that Emefiele knows how to craftily swim through the dark forex deals and mulky waters of any investigations should the National Assembly decides to institute one.
He’s seen as a man whose physical disposition dispels any case of corruption. “He’s not assuming and proud – He’s a gentleman who is not controversial,” the source who revealed he was going to be removed alleges.

He further explained that it took long for the letter of reappointment to be transmitted to the National Assembly because the President was caught up in the elections and then his failing health which eventually culminated in the ten-day nonofficial trip to the UK.

Funtua is the Chairman of the popular Bulet International Construction Company.
Despite not holding any politic appointment, Funtua “says and gets anything,” and “decides when to travel with the President,” the source explained pointing to several trips he has undertaken with Buhari. But most of his trips are concealed as he either goes there before the President or joins later.

One of such was the official visit to the US in July 2015. Funtua was listed as a Head of the ‘President Business Team’.

Such is Funtua’s influence that he acquired Keystone Bank and 9Mobile, via Asset Management Corporation of Nigeria (AMCON) without paying a kobo.
AMCON is headed by Funtua’s son-in-law, Ahmed Kuru, who has even ran the coy aground.