Emefiele Reportedly Arrested by EFCC After Brief DSS Release in Ongoing Corruption Investigation

The former Governor of the Central Bank of Nigeria, Godwin Emefiele, briefly regained his freedom on Thursday night after his release by the Department of State Services (DSS). However, this moment of respite was short-lived as he was immediately apprehended by the Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-corruption agency.

Emefiele had been in DSS custody since June 9, and his release was seen as a surprise development. It was revealed that the Presidency had directed the EFCC to take over the case.

This arrest followed Emefiele’s suspension from office by President Bola Tinubu on the same day he was initially apprehended by the DSS. The suspension was linked to ongoing investigations into his office and planned reforms in the financial sector of the Nigerian economy.

Allegations of terrorism financing and fraud have been at the center of the investigations against Emefiele. Reports had suggested that he entered into a non-prosecution plea bargain with the Tinubu administration, contingent on returning a significant sum of N50 billion that he had allegedly amassed corruptly.

Emefiele had also been facing 20 counts of conspiracy and procurement fraud charges. The arraignment was postponed as the Attorney General of the Federation, Lateef Fagbemi (SAN), awaited President Tinubu’s approval after signing the non-prosecution plea bargain.

It’s worth noting that the Ministry of Justice, represented by Modupe Ogundoro, denied the existence of any non-prosecution plea bargain involving Emefiele.