Godwin Emefiele, who serves as Governor of the Central Bank of Nigeria (CBN), has been taken into custody by the Department of State Services (DSS).
It was reported that President Bola Tinubu made the decision to suspend Emefiele from his position on Friday evening. This development comes as a result of that decision.
After being removed from his position, Emefiele was given the instruction to hand over the responsibilities of his office to the Deputy Governor of the Operations Directorate. This individual will take over as the acting Governor of the Central Bank while the investigation and any necessary reforms are carried out. However, the DSS’s decision to place Emefiele under arrest has brought an entirely new level of complexity to the situation.
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It is important to keep in mind that the DSS submitted its case (an ex-parte motion) against Emefiele on December 7, 2022, asking for permission to arrest, investigate, and detain him. On the other hand, a federal high court in Abuja rejected the application that the DSS had submitted on December 9th.
The DSS alleges that Emefiele is guilty of the following crimes:
1. Providing financial support to members of a group known only as “Unknown Gunmen,” as well as to the Economic Support Network and the Indigenous People of Biafra (IPOB), using funds that he had previously raised for his unsuccessful run for the presidency the previous year. 2.
2. Poor administration of Nigeria’s social investment programme (also known as NISRAL and the Anchor Borrowers Scheme)
3. Illegal economic activity that poses a threat to the national security
4. Money Laundering
5. Unsavoury behaviour conducted through intermediaries
6. making a complete circuit
7. The provision of monetary advantages to oneself as well as to other parties
8. A Danger to the Safety of the Nation
9. Illicit scheme to steal money or other resources from the government
10. The Financing of Terrorism
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