The State Security Service (SSS) has taken into custody Kingsley Obiora, the Deputy Governor of the Central Bank of Nigeria (CBN) responsible for economic policy. Mr. Obiora has been in detention for four nights as he faces questioning by the security service. This development comes in the wake of ongoing investigations into allegations of financial mismanagement during the tenure of the ousted CBN Governor, Godwin Emefiele.
Mr. Emefiele, who assumed the role of CBN Governor in June 2014, has been in the custody of the SSS since June 10, 2023, a day after his controversial removal from office by President Bola Tinubu. Despite two federal judges ordering Mr. Emefiele’s release, the SSS has continued to find reasons to detain him, frequently filing new charges to replace previous ones for which the senior banker had been arraigned.
A source familiar with Mr. Obiora’s arrest suggested that he is being targeted as a key witness in the case against his former boss. However, The Gazette has sought additional sources to corroborate this claim. Another high-ranking CBN official, Abbas Masanawa, was recently arrested and remains in custody as authorities seek to ascertain the extent of Mr. Emefiele’s alleged involvement in corruption.
The Gazette reached out to the SSS and CBN for comment on Mr. Obiora’s detention, but responses were not received promptly. Officials have indicated that his detention may not be entirely unexpected due to his in-depth knowledge of CBN’s policy decisions.
Born on March 6, 1976, Mr. Obiora previously served as a policy chief at the International Monetary Fund (IMF) and advised former Finance Minister Ngozi Okonjo-Iweala. He also worked as an adviser to Mr. Emefiele until March 2, 2020, when he was confirmed in his current role as one of CBN’s four deputy governors.
In late July, President Tinubu appointed a special investigator, Jim Osayande Obazee, to probe the CBN and other federal agencies suspected of fostering a culture of public graft. Obazee began his work at the CBN in early August, according to officials.
