Blog

The suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made an appearance before a Federal High Court in Lagos on Tuesday and pleaded not guilty to charges of illegal possession of firearms filed against him by the Ministry of Justice.

As previously reported by Vanguard, Emefiele arrived at the Federal High Court in Lagos to face trial over allegations of possessing firearms without a license. He was present in court before the lawyers arrived and was prepared to defend himself against the two-count charge related to the unlicensed possession of a single-barrel shotgun (JOJEFF MAGNUM 8371).

Emefiele, who has been the Governor since 2014, is the first to serve two terms as the head of Nigeria’s apex bank in nearly 20 years. He was appointed by then-President Goodluck Jonathan in June 2014, following the completion of Sarah Alade’s term after Sanusi Lamido Sanusi.

Presidential ambition and campaign controversy:

In April 2022, the Emefiele Support Group (ESG) claimed responsibility for providing campaign materials, including branded buses, for Godwin Emefiele’s potential presidential bid. This sparked reactions, with some calling for his resignation. Emefiele neither confirmed nor denied the rumors until March 28, 2022, when he stated that he had not yet decided on his presidential aspiration.

Dismissal of Emefiele’s presidential ambition:

In May 2022, a Nigerian court in Abuja dismissed Emefiele’s request to prevent his disqualification from pursuing the presidential ticket. The court summoned the Independent National Electoral Commission (INEC) and the attorney general to present their sides in the case.

Emefiele’s disappearance and controversies:

Godwin Emefiele returned to Nigeria from the United States, where he had attended a summit with President Buhari. He kept a low profile amid reports of a plot by the Department of State Services (DSS) to interrogate him. The DSS had accused him of terrorism financing, but a Federal High Court declined the agency’s request for his arrest.

Emefiele with the DSS:

In January, there were reports in the local media that the DSS had sought permission from the Federal High Court in Abuja to arrest and detain Emefiele on allegations of terrorism financing and economic crimes of national security dimension. However, a Federal High Court in Maitama, Abuja, issued an order restraining the DSS from arresting, detaining, or questioning Emefiele.

The DSS accused Emefiele of fraud, money laundering, round-tripping, and providing financial benefits to himself and others. Other corruption issues, such as “ways and means,” are also associated with the suspended Governor.

Suspension:

On June 9, 2023, Nigeria’s President, Bola Tinubu, suspended Godwin Emefiele, the Governor of the Central Bank of Nigeria, from office immediately. The suspension was related to ongoing investigations of his office and planned reforms in the economy’s financial sector.

The second encounter of Emefiele with the DSS:

Following his suspension, Emefiele was arrested by the DSS as investigations into some of his activities continued. However, he approached the Federal Capital Territory High Court, Abuja, to challenge his detention by the DSS.