Nigeria’s Department of State Security Detains Suspended CBN Governor

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Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN), has been apprehended by the Department of State Security (DSS).

In a statement on Saturday, Peter Afunanya, spokesman of the agency, confirmed that Emefiele is in custody.

โ€œThe Department of State Services (DSS) hereby confirms that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons.โ€

โ€œThe public, particularly the Media, is enjoined to apply utmost caution in the reportage and narratives concerning this.โ€

Credible sources around the presidency and the intelligence community said Emefiele was suspended for several reasons, among them his recent role in the naira swap and cashless policy that mopped up the entire money in circulation in the country, which nearly truncated the conduct of the 2023 general polls.

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At the height of electioneering, Tinubu had claimed that the naira policy was targeted at him, insisting that he would certainly win the election despite sabotage from official quarters.

Neither the suspended CBN governor nor the official spokesman of the apex bank, Isa Abdulmumin, could be reached for comment. Emefiele had at various times denied wrongdoing, insisting he was discharging his responsibilities as provided by the law.

Sources claim the DSS, the Economic and Financial Crimes Commission (EFCC), and many financial regulatory agencies, both at home and abroad, have issues to grind with the embattled Emefiele.

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