The Department of State Services (DSS) may have decided to approach a Magistrate Court to seek an order for the prolonged custody of the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, during the course of his interrogation.
According to a source within the DSS, the agency is likely to request a court order to detain the suspended CBN governor indefinitely or for a minimum of one month, which can be renewed, in order to conduct thorough and unrestricted investigations.
President Bola Tinubu suspended Emefiele from his position with immediate effect on Friday. Mr. Folashodun Adebisi Shonubi, the Deputy Governor of the Operations Directorate, has been appointed as the acting Governor.
The suspension followed the ongoing investigation of Emefiele’s tenure and Tinubu’s proposed reforms in the financial sector, as stated in a press release by the Director of Information in the Office of the Secretary to the Government of the Federation, Willie Bassey.
Emefiele was arrested in Lagos on Saturday by the DSS and swiftly transported to Abuja. A video circulating online showed him being escorted to the airport in an unmarked Hilux van, surrounded by security operatives. Upon arrival, he was led onto a waiting plane, with one operative holding a pair of handcuffs.
The source within the DSS revealed, “He (Emefiele) will remain in our custody for some time. We may seek a court order for further detention. Previous charges against him still stand, and additional investigations may lead to new charges. We need to ensure that all loose ends are tied up before taking him to court. It’s important to note that we were searching for him prior to his suspension. Now that we have him, we will hear from him and learn his perspective on the issues we have highlighted.”
Another credible source mentioned that the DSS has assembled a team of skilled investigators to question Emefiele on a wide range of issues, including allegations of terrorism financing, diversion of public funds for political purposes, mismanagement of the economy and the apex bank, and more.
“We have a team of investigators who will gather statements from him. Nigerians need to know what happened and why we were searching for him before,” added the source.
Furthermore, Emefiele’s arrest marks the beginning of an imminent purge of the top echelon of the apex bank, which is said to have become excessively influenced by particular ethnic and religious groups. Alongside Emefiele, other senior directors of the CBN will also face questioning as part of a comprehensive investigation ordered by the President.
According to reliable sources, the DSS will also target senior officials in the CBN’s procurement department and special advisers to the suspended governor. The agency is particularly interested in a retired Director of the CBN who was retained as a Special Adviser by Emefiele, as he is believed to possess insider knowledge of the former governor’s actions.
“Many top directors will be invited for questioning in the coming weeks,” stated a source.
Emefiele, his aides, and other top directors will be interrogated on several issues, including the alleged fraudulent activities surrounding loans worth billions of naira granted to farmers under the Fadama scheme. The controversial sale of Polaris Bank, alleged financing of the Indigenous People of Biafra (IPOB) by Emefiele, forex fraud, mismanagement and fraud associated with NIRSAL, and the CBN’s fiscal policies will also be investigated.
The level of complicity determined during the investigation will dictate whether individuals retain their positions or face prosecution, according to another source.
Dr. Peter Afunaya, the spokesperson for the DSS, confirmed that the suspended CBN governor is in the agency’s custody and will undergo interrogation. He urged caution in
