Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, who had been in the custody of the Department of State Services (DSS), was reportedly released on Thursday night but swiftly apprehended by the Economic and Financial Crimes Commission (EFCC), according to insider sources.
A high-ranking security official revealed, “Emefiele regained his freedom last night, but he was immediately picked up by operatives of the Economic and Financial Crimes Commission,” confirming the transfer of his custody to the EFCC as directed by the Presidency.
Emefiele had been detained by the DSS in June, coinciding with his suspension from office by President Bola Tinubu. He faces serious allegations of terrorism financing and fraud. Reports indicated that Emefiele was on the verge of being released by the DSS due to a plea bargain agreement with the federal government. This arrangement hinged on his willingness to return a sum of N50 billion, which he was accused of embezzling.
The delay in Emefiele’s prosecution reportedly stemmed from the requirement for President Tinubu’s approval, which was pending because he was out of the country. While Tinubu was still out of the country, a source had then stated, “The exclusive deal has been finalized awaiting Tinubu’s order. Tinubu is expected back in Nigeria this weekend after a medical visit to France.”
Allegations have surfaced concerning substantial sums of money traced to Emefiele’s accounts, which he allegedly intended to use for his presidential campaign.
Notably, the Ministry of Justice spokesperson denied the existence of any non-prosecution plea bargain involving Emefiele. This development follows the recent release of Abdulrasheed Bawa, the former chairman of the EFCC, who had been detained by the DSS for 134 days without trial. Bawa’s arrest had come following allegations of abuse of office, coinciding with his suspension by President Tinubu on June 14, 2023.