The Department of State Services (DSS) has reportedly confiscated the passport of Godwin Emefiele, the suspended Central Bank Governor, as part of its ongoing investigation into his office and the planned reforms in the financial sector. The DSS is also preparing to search Emefiele’s home and office for documents that could aid their investigation.
Emefiele was suspended on Friday, and the DSS subsequently arrested him in Lagos before flying him to Abuja in a private jet on Saturday. Peter Afunanya, the spokesperson for the DSS, confirmed Emefiele’s custody and stated that he was under investigation. According to a source within the DSS, confiscating Emefiele’s travel document is a standard procedure during ongoing investigations.
The source further revealed that the DSS intends to search Emefiele’s residence and office for any evidence related to his management of the Central Bank of Nigeria (CBN). The DSS is said to be looking into allegations of mismanagement of the CBN subsidiary, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, and the Anchor Borrowers Programme.
In addition to Emefiele, it is reported that other top directors of the CBN may also be invited or arrested for questioning regarding their roles in the administration of the apex bank. The DSS may also revisit the criminal charges it previously filed against Emefiele, which involve terrorism financing and fraud.
Efforts to reach the DSS spokesperson, Peter Afunanya, for comment were unsuccessful as he was reportedly unreachable at the time of filing the report.
Meanwhile, human rights lawyer Femi Falana, SAN, has asserted that the DSS lacks the constitutional power to investigate and prosecute Emefiele. Falana believes that Emefiele should be transferred to the custody of the Economic and Financial Crimes Commission (EFCC), as they possess the legal authority to prosecute him.
Falana referred to a Supreme Court ruling in the case of Dr. Bukola Saraki v. Federal Republic of Nigeria, which concluded that the EFCC lacked the jurisdiction to investigate and prosecute Saraki for breaching the provisions of the Code of Conduct Bureau and Tribunal Act. Falana suggests that in line with this principle of law, once the DSS completes its investigation into Emefiele’s alleged involvement in terrorism financing, they should transfer him to the EFCC for further investigation.
The developments surrounding Emefiele’s case have raised significant interest, as the nation awaits further updates on the investigation and its implications for the financial sector and the former Central Bank Governor.
