Emefiele arrested trying to leave Nigeria through land border, may be arraigned in Court this week

Emefiele arrested trying to leave Nigeria through land border, may be arraigned in Court this week

Barring any change in government’s plans, the suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, will be charged to court this week.

According to LEADERSHIP Sunday, Emefiele was arrested while making his way out of Nigeria by land borders and flown into Abuja yesterday where he was kept in the custody of the Department of State Services (DSS).

Security sources who spoke to LEADERSHIP yesterday, said the case against Emefiele is a simple one since he has been in running battle with the DSS over some terrorism financing for some time now.

The sources said now that President Bola Ahmed Tinubu has suspended the governor, the coast is clear for the DSS to bring him in for questioning and possible prosecution.

Some of the charges that may be brought against Emefiele include terrorism financing, fraudulent activities and involvement in economic crimes of national security dimension including mismanaging the CBN subsidiary, NISRAL and the central bank’s Anchor Borrowers Programme.

The DSS also accused Emefiele of fraud, money laundering, round tripping and conferment of financial benefits to self and others.

Other corruption issues such as the “ways and means” is still hanging around the suspended governor’s head.

According to human rights activist, Sesugh Akume, under the administration of Emefiele, the bank never followed the principles of “ways and means” loans and the loans moved from N789.6billion in May 2015 to N22.7trillion in May 2023.

In a press release by Akume in reaction to Emefiele’s suspension, he said this policy gaffe and others were responsible for “distortions in the economy, including inflation (the rising cost of goods and services) which the CBN itself admits” under Emefiele.

The activist, however, faulted the unilateral suspension of Emefiele by President Bola Tinubu without recourse to the Nigerian senate as stated in the CBN Act 2007, adding that the act “needs to be strengthened to protect the institution of the CBN from abuses, both internal and external.”

He said; “I have been opposed to the rank incompetence, maladministration, and abuses by Godwin Emefiele as CBN governor and had in the past instituted two lawsuits against him and the CBN, and others at the Federal High Court Abuja.

“The harm Godwin Emefiele has done to Nigeria, its monetary system, the CBN as an institution, and Nigerians is incalculable, and he needs to end up in prison someday, hopefully in the near future

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