EFCC detains Emefiele after regaining freedom from DSS

Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), was reportedly released yesterday and subsequently picked up by the Economic and Financial Crimes Commission (EFCC).

Although there is no official confirmation on this development, media reports suggest that Emefiele is currently undergoing interrogation, and there are hints that additional charges may be pressed against him.

Emefiele has been under the custody of the Department of State Services (DSS) since June, following a suspension by President Bola Tinubu.

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

On July 25, he appeared in a federal high court in Lagos, where he was arraigned on a two-count charge linked to the “illegal possession” of firearms.

Bail was granted, and the bail amount was fixed at N20 million.

On August 17, the federal government withdrew the two-count charge, resulting in its subsequent dismissal.

However, an additional 20 charges were brought against him, alleging that he conspired to engage in procurement fraud and other illegal activities.

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