CBN Deputy Governor Emem Usoro Under Scrutiny Over Alleged Appointment of Minor Twins as Company Directors

…Report Alleges Undeclared Links to Buildchester Ltd, Raises Questions Over CAMA Compliance, Asset Declarations

Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Operations, Emem Nnana Usoro, has come under scrutiny following allegations that her minor twin daughters were listed as directors and shareholders of a construction and real estate company.

According to an investigative report by SecretsReporters, the children, identified as Elina Ejiro Wesley and Eleanor Ese Wesley, were allegedly listed as directors and shareholders of Buildchester Ltd, a company incorporated on November 21, 2000.

The report claims that the twins were born in 2020, meaning they are minors and would be about six years old in 2026.

The allegation has raised questions over compliance with the Companies and Allied Matters Act (CAMA) 2020, which places age restrictions on persons eligible to serve as company directors.

Under Nigerian company law, a person must have attained the age of 18 years to be appointed as a director of a company. If the records cited in the investigation are accurate and current, the alleged listing of the children as directors could raise serious regulatory and legal questions.

Buildchester Ltd has reportedly been associated with businessman Jerry Edirin Wesley. The investigative report also referred to court filings arising from matrimonial proceedings involving Wesley and Grace Efedede Wesley, as well as other disputes connected to personal and business affairs.

Beyond the alleged appointment of the minors as company directors, SecretsReporters further claimed that their reported interests in Buildchester Ltd were not reflected in asset declaration documents allegedly filed by Usoro.

The report specifically raised questions about declarations purportedly made to the Code of Conduct Bureau (CCB) and under requirements applicable to bank employees.

However, the allegations concerning the company records, the ownership structure of Buildchester Ltd and the contents of the asset declaration documents have not been independently verified by TrackNews.

The report further alleged that Usoro had not responded to inquiries seeking clarification about her relationship with the company, the alleged listing of the minors as directors and shareholders, and whether any relevant interests were disclosed in her official declarations.

Usoro, who built a career in the banking industry before her appointment as a CBN Deputy Governor in 2023, is yet to publicly respond to the specific allegations contained in the report.

The investigation also raised questions about properties allegedly linked to the CBN Deputy Governor in the United States, including properties said to be located in the Los Angeles area.

There has, however, been no official finding cited in the report establishing that Usoro violated any law in relation to the alleged properties.

The controversy has generated questions about corporate governance, regulatory compliance and the asset declaration obligations of senior public officials.

As a Deputy Governor of the Central Bank of Nigeria, Usoro occupies one of the country’s most sensitive financial regulatory positions, making allegations concerning corporate interests and asset declarations matters of significant public interest.

The central questions now are whether the minors were indeed officially registered as directors of Buildchester Ltd, whether the relevant corporate records remain current, and whether any interests required by law to be declared were omitted from official filings.

As of the time of filing this report, neither the CBN Deputy Governor nor the relevant authorities had publicly provided a detailed response to the allegations.