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First with the News

Nigeria: Central Bank Governor Returns After Overstaying Approved Holiday Period

January 12, 2023
in Economy, Politics, Top Stories
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By Enyichukwu Enemanna

Governor of Nigeria’s Central Bank, Godwin Emefiele has reportedly returned to the country following the expiration of a holiday period in which he was expected to resume office on Wednesday, Jan. 11 but could not.

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A source who spoke with online newspaper, Premium Times, said the Central Bank of Nigeria governor got the permission of President Muhammadu Buhari for two weeks of leave which expired Tuesday.

“His holidays finished on Tuesday so he has to report to work on Wednesday,” the source said.

The report further says Mr Emefiele who returned to the country on Wednesday amidst fear of arrest is planning a fresh overseas trip.

“He is trying to leave within the next few days on the pretence of attending the annual World Economic Forum,” their source said.

The embattled CBN Governor had left the country for several weeks following the investigation of several allegations against him, including corruption and terrorism financing.

The Department of State Services (DSS) had sought a court order to arrest Mr Emefiele but the Federal High Court, Abuja rejected their request.

In the application, the DSS wanted the court to order the arrest of the CBN governor over alleged “acts of financing terrorism, fraudulent activities and economic crimes of national security dimension.”

The DSS filed the application marked FHC/ABJ/CS/2255/2022 at the court on December 7, 2022.

Mr Emefiele was the sole defendant in the suit which was filed ‘ex parte’, meaning Mr Emefiele was not notified of the suit.

The Parliament had also invited him to seek clarification on the distribution of the redesigned Naira notes which has been trailed with controversies.

Despite the January ending deadline to phase out the old Naira notes, the new notes have been scarce, with banks still dispensing the old notes across the counter and through their automated teller machines.

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