Godwin Emefiele: 3 Reasons Why EFCC Arrested Ex-CBN Boss
- A fresh update has confirmed why the Economic and Financial Crimes Commission (EFCC) apprehended Godwin Emefiele
- The former Central Bank of Nigeria (CBN) governor has been battling legal issues since his exit from office
- In this report, Legit.ng highlighted the three issues that Emefiele would answer while in the custody of the anti-graft agency
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FCT, Abuja - An emerging report has confirmed that the EFCC is considering bringing several financial and economic charges against the ex-governor of the CBN, Godwin Emefiele.
This comes after he was moved from the Department of State Services (DSS) to the anti-corruption agency.
Source: Getty Images
A reliable source revealed that Emefiele was officially transferred to the commission on Thursday night.
However, there are three critical issues the anti-graft agency would like to uncover from the interrogation of the ex-CBN boss.
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These issues include:
1. Awarded contracts worth billions
It was gathered that the ex-CBN governor approved a series of contracts that had not been brought to public notice.
These contracts were reported to be worth billions of Naira, and it was also alleged that the awarded contracts did not follow protocol as stipulated in the CBN guidelines.
As reported by Vanguard, an insider revealed that Emefiele will remain in the custody of the EFCC for an extended period to allow their agents to extract as much information as they can from the banker before determining their subsequent course of action.
2. Naira redesign
Implementing the Naira redesign will go down in history as one of the most challenging periods for Nigerians.
This decision by the ex-CBN boss was implemented in the build-up to the 2023 general election and distorted some of the pre-electoral activities of the election.
Nigeria was plagued with the scarcity of the new Naira notes, which further triggered inflation and other social vices.
3. Controversial Anchor Borrower’s Programme (ABS)
Out of the enormous N1.1 trillion invested in the ABS, it has been revealed that just over N574 billion has been recovered.
At the same time, the President’s instruction is to recover the remaining funds, especially from commercial banks and a subsidiary of the CBN.
These institutions received a substantial part of the funds but did not correctly distribute them to ABS beneficiaries or return the initial amount to the central bank.
Background of Emefiele’s ordeals
Recall that Emefiele had been detained by the DSS since June 9, 2023, following his suspension from office by President Bola Tinubu, and is facing a series of legal twists.
Initially, the DSS cited “investigative reasons” for his detention, but on July 25, 2023, he was charged with illegal gun possession in Lagos. However, this charge was later withdrawn, and on August 15, 2023, the court dismissed it, giving the impression that Emefiele might soon be released.
However, fresh charges totalling 20 counts have now been filed against him by federal authorities, indicating a continuing legal ordeal for the ex-CBN governor.
Contracts procurement frauds cost Nigeria N2.9trn in 3 years under Buhari - EFCC Boss
In another report, President Bola Tinubu recently appointed Olanipekun Olukoyede as the chairman of Nigeria's anti-graft agency, EFCC.
Olukoyede's nomination was ratified by the national assembly on Wednesday, October 18, in Abuja, the nation's capital city.
While being grilled by the federal lawmakers, Olukoyede complained about the corruption habit among some Nigerians.
Source: Legit.ng
