The reason Godwin Emefiele was unceremoniously kicked out of the Central Bank of Nigeria and got arrested by the Department of State Services has been linked to a transfer of $1b from the coffers of the CBN to the account of Aliko Dangote.
According to reports by Politics Nigeria, Emefiele borrowed $1 billion from Afrexim Bank on April 24, 2023 and subsequently transferred $750 million to Aliko Dangote’s Dubai accounts. These transactions happened without Bola Ahmed Tinubu knowing as President-elect.
“1 billion dollars was received from AfreximBank into the CBN’s JP Morgan account on April 24, 2023, out of which 750 million dollars was immediately transferred to Dangote’s Bluestar Dubai account within two days using the “Form A” transaction method, bypassing the requirement of a Letter of Credit,” said CBN sources
After being inaugurated the deal came to the knowledge of President Tinubu and he did not waste time sacking Emefiele and ordering an investigation.
Emefiele was arrested in Lagos and flown to Abuja by the DSS and in the coming days would begin to answer questions on his activities at the CBN.
The DSS seems to have already built a case against the sacked CBN governor whom they accused of criminal activities. The DSS last December filed a suit at the Federal High Court Abuja requesting to arrest and prosecute Emefiele. But the Court declined to grant an order for the arrest of the embattled Emefiele on December 9.
Emefiele is accused of the following by the DSS:
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