CBN Gov: Presidency At Labyrinth Over Emefiele

  • May proceed on leave, As Buhari Seeks Replacement
  • Forces Battle To Save Him, NASS Guns For His Jugular

It seems only a matter of time before President Muhammadu Buhari, announces the sack of Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, as he is said to be at his wits end having come under serious pressures to fast track the revival of Nigeria’s economy, with the Governor seemingly ‘lacking the clue’ on how best to go about.
nationalTRAIL reports that, the President has been inundated with complains of lack of performance by the CBN helmsman, aside accusations of alleged sundry corrupt acts, which saw to the massive looting of the nation’s treasury under his watch by officers of the immediate past administration of Goodluck Ebele Jonathan.
Only last week Monday, a brief news flash on TVC News to the effect that Central Bank Governor had been removed sparked off confusion, putting some staffers of the bank on a razor edge tension, with yet others jubilating, only for Godwin Emefele to appear on Television a few hours after the breaking news flash, addressing a press conference and announcing major policy decisions by the apex bank, Including the lifting of restrictions on forex transactions.
While some regarded the news as a deliberate mischief, given the fact that instead of clearing his desk as expected, the CBN Governor appears to be waxing stronger, nationalTRAIL can authoritatively reveal that there was actually a move in the Presidency to announce Emefiele’s removal, but was shelved at the last minute for reasons yet unknown.
Sources within the presidency told our correspondent that a legal team constituted by the presidency is studying the Central Bank of Nigeria Act, before making any pronouncement on Godwin Emefiele and that,” It is a matter of time, again we have to look carefully into his letter of appointment before any major decision, because there are certain constitutional provisions that might conflict with whatever good intention that has to do with his removal” .
Another source at the office of the Economic and Crimes Commission (EFCC) confirmed this much “we are waiting for him to clear his table, because he is the only person who can give detailed account of how controversial funds were disbursed from the CBN”.
This is even a investigations into and prosecutions over the massive withdrawal from the CBN by the former National Security Adviser, Sambo Dasuki, and other former Government officials gets under way, fear of imminent purge has gripped the top echelon of the Central Bank of Nigeria, beginning with its Governor.
The Economic and Financial Crimes Commission (EFCC), nationalTRAIL gathered is closing in on collaborators within the apex bank, and their various roles in facilitating the fraud, especially on the modalities for releasing the funds. Also how billions of Naira was contributed to the presidential campaign of former President Goodluck Jonathan, and other political activities.
The EFCC which got the Presidents further orders to investigate certain individuals and organizations, found it difficult to extricate the CBN which got directives to honour payment mandates from embattled former National security Adviser, to the effect that some of those indicted in the probe accessed money directly from the Bank, contrary to its operational policies.
Our correspondent reports that, Godwin Emefiele, as CBN Governor may have presided over the disbursement of Funds for Peoples Democratic Party’s campaign, even as he was said to have been brought into the system, with a script by the powers that appointed him.
According to an insider at the apex bank, “some management staff may be invited this week by the anti- graft agency, a development that has been causing some of the staff sleepless nights.
Both the Presidency and the Central Bank of Nigeria have kept sealed lips over the development, but sources confirmed to us that, President Muhammad Buhari, has been at a labyrinth over whether to replace the embattled CBN Governor, as being canvassed by some forces, or to let him be as some other forces are demanding.
Both Mallam Garba Shehu, Senior Special Assistant to the President on Media and Alhaji Bello Muazu, Director of Communications at the CBN were not forthcoming with any comments on the issue, but our correspondent reports that there is uneasy calm at both ends, since it became public knowledge that there is an ongoing battle amongst contending forces over Godwin Emefiele.
The Nigerian senate, apparently getting impatient with Emefiele’s too numerous and contradictory policies, may have initiated moves for the man’s ouster, as he has already been summoned to explain why the nation’s currency seems to be dangerously sliding without any apparent moves being initiated to save the situation by the CBN.
Sources at the senate confirmed to our correspondent that Senators were not impressed with Emefele’s recent grandstanding to the effect that the Nigerian economy was on course, and the nation’s currency healthy, as the depreciating value of the Naira, as well as certain economic indicators suggest that the Nigerian economy may be heading for a collapse, which they intend to take the CBN Governor over when he faces the distinguished senators.
Our investigations further reveal that the EFCC has concluded prelimnary investigations of some illegal withdrawals from the CBN with the alleged active connivance of the governor, including the celebrated arms deal scam, and President Buhari’s hammer is waiting to land in the bank, which may see to the exit of other top management staff of the bank.


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