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First with the News

Nigeria’s Former Central Bank Chief Emefiele Released By DSS, Detained By EFCC

October 27, 2023
in Legal, Top Stories
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Court Orders Nigerian Govt To Pay Former Central Bank Chief N100 Million Over Illegal Detention

Former Governor of The Central Bank of Nigeria (CBN), Chief Godwin Emefiele.

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By John Ikani

Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is currently in the custody of the Economic and Financial Crimes Commission (EFCC).

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Emefiele, presently under interrogation at the EFCC’s National Headquarters in Jabi, Abuja, was apprehended by EFCC agents less than an hour after his release from the Department of State Services on Thursday night.

An undisclosed source disclosed this development to newsmen on Friday morning, stating that the EFCC is probing Emefiele for alleged financial wrongdoing during his tenure as the central bank’s head.

“Yes, Emefiele is presently in our (EFCC) custody; he was arrested last night, less than an hour after the DSS released him. He is currently being questioned at the headquarters, as he is under investigation for alleged misappropriation of funds and other offences during his term as CBN governor,” the source confirmed.

It is rumoured that the EFCC might file additional charges against Emefiele.

The spokesperson for the EFCC, Dele Oyewale, was not available for official confirmation when contacted on Friday.

Emefiele had been held by the Department of State Services since June, following his suspension from the position by President Bola Tinubu. Subsequently, he was asked to transfer his responsibilities to Folashodun Shonubi, who was the Deputy Governor of the Operations Directorate at the central bank at the time.

The DSS later revealed that Emefiele was in their custody for investigative purposes. On July 25, he was charged with “illegal possession” of firearms at a federal high court in Lagos and was granted bail in the amount of N20 million. The Federal Government withdrew the charges on August 17.

However, a new 20-count charge was filed against him, alleging involvement in procurement fraud and other offences.

The arraignment was postponed twice, and Emefiele reportedly proposed a plea bargain agreement with the Federal Government, which included his resignation as CBN governor and the surrender of specific assets.

On September 22, the CBN officially confirmed Emefiele’s resignation, with Olayemi Cardoso appointed as the new governor of the central bank.

Tags: breakingCentral Bank of Nigeria (CBN)Economic and Financial Crimes Commission EFCCGodwin EmefieleHeritageheritage timesheritagetimesmediahtlatestnewsthe heritage timesthehtafricathtthtafricatop stories
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