DSS Seizes Emefiele’s Passport, Plans to Search His Home and Office After Suspension
The Department of State Services (DSS) has reportedly seized the passport of suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and plans to search his home and office as part of its investigation into his alleged involvement in terrorism financing and fraud.
Emefiele was suspended by President Bola Tinubu on June 9, 2023, after serving as the governor of the apex bank for nine years. He was appointed by former President Goodluck Jonathan in 2014 and his tenure was renewed by former President Muhammadu Buhari in 2019.
He was accused of mismanaging the CBN subsidiary, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), and the Anchor Borrowers’ Programme (ABP), which are meant to boost agricultural production and food security in the country.
He was also accused of implementing an interventionist currency policy that propped up the Nigerian Naira by pumping billions of dollars into the foreign exchange market, leading to depletion of the country’s external reserves and distortion of the market.
A source in the DSS disclosed that Emefiele’s passport was confiscated as part of the standard procedure pending the conclusion of the investigation. The source added that the DSS operatives may search his home and office for documents and evidence that can aid the investigation.
The source also said that other top directors of the CBN might be arrested or invited for questioning over their roles in the administration of the apex bank.
It was learnt that the DSS might revisit the criminal charges it earlier filed against Emefiele, which bordered on terrorism financing and fraud. The charges were filed in December 2020, but a court order blocked Emefiele’s arrest for lack of evidence.
Emefiele has denied any wrongdoing and said he was ready to cooperate with the DSS and clear his name. He said he had nothing to hide and that he had served Nigeria diligently and patriotically.
The suspension of Emefiele has sparked mixed reactions from Nigerians, especially on social media. Some Nigerians applauded Tinubu for taking a bold step to reform the CBN and the financial sector, while others criticized him for acting arbitrarily and politically motivated.
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