EFCC Arrest Emefiele, Few Hours DSS Release Him

Former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, regained his freedom last night and was immediately picked up by operatives of the Economic and Financial Crimes Commission (EFCC).

,,,The former CBN Governor is being interrogated and there are indications that fresh charges will be filed against him.

Emefiele had been in the custody of the Department of State Services (DSS) since June after President Bola Tinubu handed him a suspension.

He was thereafter asked to transfer his responsibilities to Folashodun Adebisi Shonubi, then deputy governor, operations directorate at the apex bank.

The day after, the DSS announced that Emefiele was in its custody for “some investigative reasons”.

,,,,On July 25, he was arraigned on a two-count charge bordering on “illegal possession” of firearms at a federal high court in Lagos, and was granted bail in the sum of N20 million.

The two-count charge was later struck out on August 17 after the federal government withdrew same.

,,,,,However, a fresh 20-count charge was instituted against him over an alleged conspiracy to carry out procurement fraud, among others.

,,,,,The arraignment has been stalled twice and Emefiele was proposing a plea bargain agreement.

The agreement required Emefiele to resign as CBN governor and “disgorge” some assets.

,,,On September 22, the CBN officially confirmed Emefiele’s resignation, after Olayemi Cardoso was appointed as substantive governor of the apex bank.