Home News Why DSS Arrested Godwin Emefiele, Suspended CBN Governor
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Why DSS Arrested Godwin Emefiele, Suspended CBN Governor

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CBN devalues Naira
CBN Governor, Godwin Emefiele
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The Department of State Services (DSS) on Friday, arrested Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria, CBN.

Daily Report Nigeria reports that Emefiele’s was suspended as CBN governor by President Bola Tinubu.

Emefiele’s suspension was contained in a statement by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey.

The embattled CBN governor was subsequently arrested by the DSS almost immediately.

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Recall that the DSS filed an ex-parte motion against Emefiele on December 7, 2022, seeking permission from the court to arrest, probe and detain him.

Meanwhile, the appeal was rejected by the Abuja Federal High Court on December 9, 2022.

The following allegations were leveled against Emefiele by the DSS in its application to the court;

  1. Funding Unknown gunmen, ESN and IPOB with money he raised for his failed presidential bid last year and funds diverted from government coffers

  2. Mismanagement of Nigeria’s social investment program (NISRAL and the Anchor Borrowers Scheme)

  3. Illegal economic crimes of National security dimension

  4. Money Laundering

  5. Unwholesome activities through proxies

  6. Round tripping

  7. Conferment of financial benefits to self and others

  8. Threat to National Security

  9. Criminal conspiracy to divert government resources

  10. Terrorism Financing

While these may not be all, the above certainly forms part of reasons why DSS arrested Godwin Emefiele.

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Written by
Tare Magbei -

With more than five years of covering different topics, Tare Magbei is a versatile journalist.

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