Following his arrest, the Economic and Financial Crimes Commission (EFCC) has begun a no limits probe of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
He is expected to help the anti graft organization’s investigation into an alleged $15 billion foreign debts and sleazes surrounding the new currency redesign.
Emefiele will be expected to account for how the apex bank spent N74.84 billion to produce and roll out currencies, including new naira notes.
The allegations are in addition to alleged fraud uncovered by the Special Investigator, Jim Obazee, who is looking into the activities of the CBN.
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Obazee, whose committee is collaborating with the Federal Bureau of Investigation of the Nigeria Police, has also submitted an interim report on the CBN to President Bola Ahmed Tinubu.
Before the arrest of Mr Emefiele, there were concerns that if the DSS continues with the investigation, the ex-CBN governor might win in court on technical grounds.
This is because only the EFCC can, with it’s statutory mandate put Emefiele on trial, not the DSS, based on the findings made so far.
Having appraised the allegations against Emefiele and the interim report on the ongoing probe of the CBN, the Attorney-General of the Federation and Minister of Justice, Mr. Lateef Fagbemi (SAN) sent an advisory to the President that the EFCC is the right agency to probe Emefiele, it was learnt.
Meanwhile, a panel of EFCC operatives had started questioning Emefiele on the allegations against him.
•Alleged foreign debts of $15 billion
•Spending of N74. 84 billion on Naira redesign, production and roll out of currencies
•Alleged fraud in Anchor Borrowers Scheme
•Suspicious audit of CBN accounts
•Acquisition of bank, Fintech licences by some top officials of CBN
•Award of suspicious billions of Naira contracts
