Details Of Allegations Emerge As EFCC Interrogates Ex-CBN Boss, Emefiele

Details Of Allegations Emerge As EFCC Interrogates Ex-CBN Boss, Emefiele

by Victor Ndubuisi

Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), is being questioned by the Economic and Financial Crimes Commission (EFCC), with a $15 billion foreign debt being the main focus of the inquiry. is aware that Emefiele is being questioned by a group of EFCC agents over the accusations made against him, which include the following:

•Alleged foreign debts of $15 billion.

•Spending of N74. 84 billion on Naira redesign, production, and rollout of currencies.

UPDATE: Emefiele Set To Regain Freedom As EFCC Takes Over Case


•Alleged fraud in Anchor Borrowers Scheme.

•Suspicious audit of CBN accounts.

•Acquisition of bank and Fintech licenses by some top officials of CBN.

•Award of suspicious billions of Naira contracts.

Recall that on Thursday night, less than an hour after the Department of State Services (DSS) had freed Emefiele, agents of the anti-graft agency had pulled him up.

Sources on Friday claim that the DSS lacks the essential expertise to look into the serious claims of financial crimes against Emefiele.

If the DSS pursued the inquiry, there were worries that the former governor of the CBN may prevail in court on technical grounds.


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In light of purported fraud that Special Investigator Jim Obazee, who is investigating the CBN’s operations, found, Emefiele would be required to provide an explanation for the N74.84 billion that the apex bank spent on creating and distributing new naira notes.

After evaluating the accusations made against Emefiele and the preliminary findings of the CBN’s investigation, Lateef Fagbemi (SAN), the Attorney-General of the Federation and Minister of Justice, advised President Bola Tinubu that the EFCC should look into Emefiele, according to information obtained.


“As a man of due process, the President approved the advisory of the AGF. It was on this basis that the DSS handed over Emefiele to the EFCC on Thursday,” a source told The Nation.

“The truth is that such an investigation is not within the mandate of the DSS. Or else, if Emefiele is put on trial by the DSS, he will win on technical grounds,” the highly placed source added.

JUST IN: Suspended CBN Governor, Godwin Emefiele Arrested By DSS


Another source in EFCC added: “Emefiele is in our custody, and he is already responding to issues or allegations raised for him from a team under the supervision of the Director of Operation, Abdulkarim Chukkol.

“As a commission, we won’t talk on his case in order not to compromise ongoing investigation.”


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