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Emefiele, CBN Deputies Plea Bargain Talks With Tinubu Govt Stalls

After the plea agreement between them and the Nigerian government fell through, the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and his deputies may now be tried.

Recall that Emefiele was removed from office on June 9 as a result of the continuing investigation into his office and the upcoming banking sector reforms.

Emefiele was held by the Department of State Services (DSS) following his suspension on suspicion of, among other things, supporting terrorism.

REVEALED: Emefiele To Resign As CBN Gov, Opted For Plea Bargain discovered that Emefiele reportedly eventually struck a plea agreement with the Federal Government in exchange for his release.


The Nation said that a federal agency was tracking trillions of naira, but only a few billions of naira were offered as a return by some of those connected to the suspect activities.

A source told the newspaper that negotiations between Emefiele and several mediating parties had stalled.

Emefiele offered to resign in August, but the other conditions of the plea agreement were “not substantially met.”

Additionally, it is revealed that the four deputy governors were fired from the top bank due to their alleged laziness while Emefiele was in charge.

James Ibori ‘Facilitates’ Plea Bargain Between Emefiele And Tinubu Govt

Additionally, it was discovered that after interventions, the government’s inquiry, which was first supervised by a security agency, had suggested Emefiele take a plea deal.

Other conditions included the abandonment of legal actions against the government and the refund of substantial sums of money that were reportedly tied to Emefiele and others, in addition to his commitment to resign down.


The insider did note that there were solid cues that the plea bargain option might have encountered a roadblock.

The source said: “Where trillions were being queried, some of those affected have offered to refund about N32 billion only.

Prosecute Emefiele, CBN Management Over Naira Scarcity – Falana Asks FG


“The engagement of the Special Investigator has also uncovered more mismanagement of resources and questionable expenditures in CBN than what some security agencies dug up.

“The findings of the Special Investigator have uncovered a massive rot.”

The CBN, according to a source in the Presidency, is rife with corruption, and the government may pursue legal action against anyone charged in the ongoing investigation into the top bank.


The government representative, however, declined to provide details about the plea deal component.

He said: “I don’t know whether the plea bargain has collapsed or not. I don’t even know if that is on the table to start with. But I know the CBN Governor and the Deputies have been removed.

“The investigations across the board are going on, and I am sure the govt will prosecute anyone who has compromised the country.”

The examination, according to the presidential source, proved that the four deputy governors were replaced due to their purported complacency.

UPDATE: DSS Interrogate CBN Deputy Govs, Emefiele’s Driver, Other Officials


The source claims that none of the deputy governors voiced an objection when Emefiele was purportedly mismanaging the CBN.

He said: “Most of the DGs “actively collaborated with Emefiele on policies and decisions not in line with the CBN’s mandate.

“Investigation is still ongoing. The special investigator sure uncovered a lot of rots which implicated the Deputy Governors.

“There is no way the Deputy Governors would have remained with the scale of corruption, poor corporate governance and complacency that happened under Emefiele.


“Allowing them to remain will mean the government has condoned all that went down under their watch.”


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