Following the suspension of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, by President Bola Ahmed Tinubu, the Department of State Services (DSS) on Friday night effected his arrest.

The Service has however not issued a statement over the arrest of the suspended CBN Governor.

Emefiele was suspended by President Tinubu, who directed him to immediately hand over the affairs of his office to the Deputy Governor in charge of Operations Directorate, Mr Folashodun Adebisi Shonubi pending the conclusion of an investigation and the reforms of the financial sector.

The DSS had during the administration of former President Muhammadu Buhari marshalled out plans to arrest Emefiele over corruption allegations but could not carry out the arrest owing to Court injunction that prevented it from arresting the suspended Governor of the CBN.

Specifically, the DSS filed ex-parte motion before a Federal High Court against Emefiele on December 7, 2022, in which it sought the approval of the Court to arrest, investigate and detain him.

But, the Federal High Court sitting in Abuja on December 9, refused to grant the application filed by the DSS.

Ruling on the motion, the trial judge, Justice J. T. Tsoho held that the DSS did not provide any evidence to substantiate its claims that Emefiele was involved in terrorism financing and economic crimes.

Justice Tsoho, who is the Chief Judge of the Federal High Court, further held that the application should have been accompanied with a presidential approval owing to the grave implications on the economy if the Governor of the CBN was arrested and detained.

The DSS had accused Emefiele of financing terrorism, aiding and abetting terrorism in addition to committing other economic crimes.

The secret police equally accused Emefiele of funding the Indigenous People of Biafra (IPOB) with the resources he raised for his failed presidential bid on the platform of the All Progressives Congress (APC), in 2022, saying that the funds were diverted from the government coffers.

The DSS specifically accused Emefiele of fraud, money laundering, round tripping and conferment of financial benefit to self and others, stressing that he badly mismanaged public funds under his control.


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