Emefiele arrested by DSS after being suspended by Tinubu

Suspended Governor of the Central Bank of Nigeria, Godwin Emefiele has reportedly been arrested by operatives of the Department of State Services (DSS).

Recall that Willie Bassey, a Director in the Office of the Secretary to the Government of the Federation, announced the CBN Governor’s suspension on Friday night.

He was asked to 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 investigation and the reforms.

Bassey said;

“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 investigation and the reforms.”

Shortly after it was announced that Emefiele has been suspended, it’s been also gathered that he’s been arrested by the DSS.

The DSS had filed its case (ex-parte motion) against Emefiele on December 7, 2022, seeking permission to arrest, probe, and detain him.

The suspended CBN Governor was accused of;

1. Funding Unknown gunmen, ESN and IPOB with money he raised for his failed presidential bid last year and funds diverted from government coffers

2. Mismanagement of Nigeria’s social investment program (NISRAL and the Anchor Borrowers Scheme)

3. Illegal economic crimes of National security dimension

4. Money Laundering

5. Unwholesome activities through proxies

6. Round tripping

7. Conferment of financial benefits to self and others

8. Threat to National Security

9. Criminal conspiracy to divert government resources

10. Terrorism Financing

However, on December 9, a federal high court in Abuja declined the application filed by the DSS. The court said at the time that such an application should have been accompanied by presidential approval because of the grave implications for the Nigerian economy if the CBN governor is arrested and detained.