Few minutes after his suspension, as the Governor of Central Bank of Nigeria, Godwin Emefiele has been arrested by Department of State Services, DSS.
“President Bola Ahmed Tinubu suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect,” the Director of Information, Office of the Secretary to the Government of the Federation Willie Bassey said in a Friday statement.
“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.
“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.The department of State Services, DSS have arrested Godwin Emefiele, the governor of Central
The DSS had filed its case (ex-parte motion) against Emefiele on December 7, 2022, seeking permission to arrest, probe and detain him. However, on December 9, a federal high court sitting in Abuja, declined the application filed by the DSS.
In declining the motion ex-parte filed by the secret police, Justice J.T. Tsoho, the chief judge, said that the DSS did not provide any concrete evidence to substantiate its claims that Emefiele was involved in terrorism financing and economic crimes.
The court said that such an application should have been accompanied with the presidential approval because of the grave implications for the economy if the CBN governor was arrested and detained.
Emefiele was accused by the DSS of financing terrorism, aiding and abetting terrorism, and committing other economic crimes.
The DSS alleged that Emefiele funded the Indigenous People of Biafra, IPOB with both the resources he raised for his failed presidential bid on the platform of the Al Progressives Congress, APC, last year and funds diverted from government coffers.
The secret police also accused Emefiele of fraud, money laundering, round tripping and conferment of financial benefit to self and others.
It said that he mismanaged public funds under his control.