The Department of State Services (DSS) has reportedly arrested Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), following his suspension by President Bola Tinubu on Friday evening.
After his suspension, Emefiele was instructed to hand over his responsibilities to the Deputy Governor (Operations Directorate) who would act as the interim Central Bank Governor during the ongoing investigation and necessary reforms. However, the arrest by the DSS has added further complexity to the situation.
It is worth noting that the DSS had previously filed a case (ex-parte motion) against Emefiele on December 7, 2022, seeking permission to arrest, investigate, and detain him. However, on December 9, a federal high court in Abuja rejected the DSS’s application.
The DSS has leveled several accusations against Emefiele, including:
1. Allegedly funding unknown gunmen, ESN, and IPOB with money raised for his unsuccessful presidential campaign last year and funds diverted from government coffers.
2. Mismanagement of Nigeria’s social investment program, namely NISRAL and the Anchor Borrowers Scheme.
3. Engaging in illegal economic crimes of national security significance.
4. Involvement in money laundering activities.
5. Allegedly carrying out unwholesome activities through proxies.
6. Engaging in round-tripping, a fraudulent practice involving the illegal purchase of foreign currency at an official rate for personal gain.
7. Conferring financial benefits on himself and others.
8. Alleged threat to national security.
9. Accusations of criminal conspiracy to divert government resources.
10. Suspected involvement in terrorism financing.
These are serious allegations that will likely be subject to thorough investigation.
