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  • CBN gov, Emefiele not arrested, DSS speaks

    CBN gov, Emefiele not arrested, DSS speaks

    The Directorate of State Security has reacted to the news earlier in the day of the alleged invasion of the headquarters of the Central Bank of Nigeria (CBN), by the operatives of the Service (SSS ), saying it had not made any move to arrest the CBN Governor, Godwin Emefiele.

    TheNewsGuru can confirm that as at 7 pm the CBN Governor who has held a series of meetings with staff earlier in the day was still at his desk.

    In an earlier statement, the head of corporate affairs, Osita Nwanisobi, stated that Emefiele resumed duty Today after his annual leave.

    The statement reads: “The Governor, Central Bank of Nigeria, Mr. Godwin Ernefiele, has resumed duty after his annual vacation abroad. Mr. Emefiele, who proceeded on leave in December 2022, resumed work today, Monday, January 16, 2023.

    “The Governor resumed with renewed vigour to perform his duty ahead of the first Monetary Policy Committee (MPC) meeting of the year scheduled for January 23 to 24, 2023.

    “Mr. Emefiele remains committed to performing the task before him in line with his oath of office and the policy direction of President Muhammad Buhari.

    While thanking the public for keeping faith with the Bank, we urge Nigerians to continue to support the policies of the Bank aimed at ensuring a stable financial system and the Nigerian economy in general.”

    Recall that there has been a running battle between the DSS and Emefiele over alleged terrorism financing against the latter.

    In their statement the DSS said:

    CBN, NOT INVADED BY DSS

    The attention of the Department of State Services (DSS) has been drawn to the false news making the round that its operatives invaded the Central Bank of Nigeria and arrested its Governor, today 16/1/23. This is fake news and quite misleading.

    Peter Afunanya PhD, fsi
    Public Relations Officer
    Department of State Services
    National Headquarters
    Abuja
    16th January, 2023

  • BREAKING: DSS storms CBN headquarters to arrest Godwin Emefiele

    BREAKING: DSS storms CBN headquarters to arrest Godwin Emefiele

    The operatives of the State Security Service (SSS ), on Monday afternoon, invaded the headquarters of the Central Bank of Nigeria (CBN) to arrest the embattled governor of Nigeria’s apex bank, Godwin Emefiele.

    Recall that there has been a running battle between the DSS and Emefiele over alleged terrorism financing against the latter.

    DSS had earlier sought a court order to arrest Emefiele who has been out of the country for his annual leave.

    However, the FCT High Court had in December 2022 barred the secret service from arresting, inviting, or detaining Emefiele.

    Today the DSS operatives stormed the premises of the CBN with about 20 vehicles filled up with a team of security men.

  • Court stops SSS from arresting, detaining CBN gov, Emefiele

    Court stops SSS from arresting, detaining CBN gov, Emefiele

    A High Court of the Federal Capital Territory (FCT) in Garki has issued an order restraining the State Security Service (SSS) and its agents from taking steps to arrest, detain or restrict the movement of the Central Bank of Nigeria (CBN’s) governor, Godwin Emefiele, over allegations linking him with terrorism financing and fraudulent activities.

    Justice M. A. Hassan issued the order yesterday while ruling on a suit filed by the Incorporated Trustees of Forum for Accountability and Good Leadership (ITFAGL).

    According to a copy of the enrolled orders sighted in Abuja last night, Justice Hassan held that the SSS “acted wrongfully and illegally in instigating the President of the Federal Republic of Nigeria against Mr. Godwin Emefile in respect of the exercise of his statutory duty relating to the issuance of monetary policies and directives in the interest of the National Security and economy”.

    The judge averred that in view of the ruling of the Chief Judge of the Federal High Court, Justice John Tsoho, delivered on December 15, 2022 in a case brought by the SSS against Emefiele, “any continuous harassment, intimidation, threats, restriction, and free movement, abuse of right of office, surreptitious moves to arrest, and humiliation of Mr. Godwin Emefiele over trumped-up allegations of terrorism financing and fraudulent practices, among others, by the fourth respondents (SSS) and its offices is vindictive, unwarranted, abrasive, oppressive, and same constitute a flagrant breach of his rights to personal liberty, dignity and human person and illegal and unconstitutional”.

    The judge ordered that the SSS, its agents and officers be “restrained from instigating the arrest or arresting, interrogating and detaining Mr. Godwin Emefiele, the Central Bank governor, in respect of any matter or policy decision on the economy of the Federal Republic of Nigeria or for any connected purposes except by an order of a superior court”.

    Justice Hassan also declared that any form of invitation to Mr. Godwin Emefiele, the governor of the CBN, in the exercise of his statutory powers, functions and duties and continuous threats by the fourth respondent to surrender his powers to them over trumped-up allegations of terrorism financing and fraudulent practices, among others, constitute a flagrant breach of his rights to personal liberty, dignity of human person, right to policy making powers, freedom of thought, conscience and religion and movement as respectively provided and enshrined under the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act and, therefore, unconstitutional and illegal.

    The judge further held that the SSS, “whether by themselves, their officers, agents, servants, privies or acting through any person or persons howsoever are hereby restrained from further harassing, humiliating, embarrassing, threatening to incarcerate or detain Mr. Godwin Emefiele, the governor of the CBN, over trumped-up allegations of terrorism financing and fraudulent practices, among others, as well as threats against the peaceable execution of his statutory powers”.

    Justice Hassan added: “The fourth respondent, whether by themselves, their officers, agents, servants, privies or acting through any person or persons howsoever, are hereby restrained from inviting, arresting and/or detaining the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, in the guise of having committed any offence, with respect to allegations of terrorism financing, fraudulent activities, etc, or in any other manner whatsoever interfering with his right to freedom of movement, personal liberty, human dignity or interfering with the tenure, functions and discharge of his duties as the Governor of the Central Bank of Nigeria except by an order of superior court.”

    Justice Hassan, who held that the other four defendants in the suit were nominal parties, declined to award cost to any of them.

    Listed with the SSS as defendants in the case are: the Attorney General of the Federation (AGF), the Economic and Financial Crimes Commission (EFCC), the Inspector General of Police (IGP), and the CBN.

    The Chief Judge of the Federal High Court, Justice John Tsoho, had, in a ruling on December 15, declined to grant the request of the SSS for an order to arrest, detain and interrogate Emefiele over alleged terrorism financing.

    He also rejected the service’s request on the grounds that it, among others, failed to provide evidence to substantiate its allegations against the CBN governor.

  • Protesters storm CBN headquarters, demand Emefiele’s resignation

    Protesters storm CBN headquarters, demand Emefiele’s resignation

    The National Youth Council of Nigeria (NYCN) has called for the resignation of the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, following an alleged case of terrorism financing against him.

    The Department of State Services (DSS) had recently went to court to seek an order to arrest and detain Emefiele over the allegation but a Federal High Court sitting in Abuja declined their application.

    The court noted said there was no strong evidence from the DSS to back the allegation in the application.

    But the NYCN in collaboration with 30 Civil Society Advocacy Groups for Accountability and Probity, not satisfied with the outcome of the court, protested on Friday and demanded that Emefiele must resign and be investigated.

    President of NYCN and convener of the group, Dr. Solomon Adodo, said that the protest was for an urgent national rescue.

    “We, therefore, offer the assistance of urging Emefiele to immediately tender his resignation, and if he fails to do so within 72 hours, both President Muhammadu Buhari and the National Assembly should invoke the relevant laws to remove him,” he said.

    Adodo urged Emefiele to honour the invitation by the DSS or any other security agency and clear his name in the allegation rather than hide under non-existent statutes and laws.

    “This is a critical time for our country, Nigeria; we should, therefore, all rise to the occasion of fixing it properly and with the right narratives, variables and solutions.

    “We warned about this dangerous trend when Emefiele became partisan, openly aspiring for the presidential ticket of the All Progressives Congress (APC), before he was forced to withdraw.

    “As a matter of fact, what the CBN needs is a total, systematic and systemic cleansing.

    “Therefore, not only should Emefiele resign or be relieved of his duties as the CBN Governor, his deputies and current directors should be investigated and all those found culpable should be sacked.

    “But importantly, we urge the DSS to be unwavering in carrying out its national security duties. No amount of blackmail or intimidation must make it backtrack from the truest and deepest professionalism that its duties require.

    “They have our support and that of other patriots. Nigeria must remain safe, no matter whose ox is gored,” Adodo said.

    He urged the Federal Government to activate international protocols under the INTERPOL and get Emefiele back to the country to answer to the allegations, as the CBN cannot be administered from abroad.

    “We owe this country eternal vigilance in the war against corruption and terrorism. Let us avoid every loud and noisy single narrative. Let only the truth prevail,” Adodo said.

  • CACLN calls on President Buhari to sack CBN governor, Emefiele

    CACLN calls on President Buhari to sack CBN governor, Emefiele

    A  pro-democracy group, Coalition Against Corrupt Leaders in Nigeria, (CACLN) has called on President  Muhammadu Buhari to immediately sack the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele for not doing well in office.

    The group has also described Emefiele’s policy as practicing voodoo economics.

    Lately, Emefiele has been linked to fraud, diversion of government funds, and perpetuating unwholesome practices in Forex management in the country.

    The group made the call when they besieged the Presidential Villa to protest against the continued stay in office of the CBN governor.

    The  protest against Emefiele by CACLN witnessed a large turn-out of people.

    The protest was tagged ‘Emefiele Must Go’

    Addressing journalists during the protest, the Convener of the group, Dauda Yakubu, said Emefiele had desecrated the revered apex bank.

    Yakubu lamented that Emefiele had made the country a laughing stock in the comity of nations.

    He stressed that Emefiele was not fit to continue in office as CBN governor.

    He said: “The Governor of CBN, Godwin Emefiele, has not only desecrated the revered apex Bank in Nigeria but also made the country a laughing stock in the comity of nations.

    “His penchant for voodoo economics is also legendary. The policy summersaults and inconsistencies in fiscal policies have indeed hurt the country’s economy in unimaginable ways.

    “It remains a mystery how the Governor of the sensitive CBN of a country would engage in partisan politics by vying for the position of President expending billions of naira from the vaults of the Central Bank in his political ambition.”

    The group said Emefiele introduced the naira redesign to cover up for some of his anomalies perpetuated in office.

    Recall that the new redesigned nairo note from 200 and above has been pushed into circulation since December 15th, 2022.

  • Emefiele: Don’t politicise security, DSS operations- Saraki cautions

    Emefiele: Don’t politicise security, DSS operations- Saraki cautions

    Former Senate President, Dr. Abubakar Bukola Saraki has advised the security agencies in the country to be wary and avoid being manipulated by politicians as the 2023 Presidential elections get nearer.

    Saraki in a statement from his Media Office in Abuja while reacting to the recent court case in which the Directorate of State Services (DSS) accused the Governor of Central Bank, Mr. Godwin Emefiele of terrorism and other sundry charges while seeking a court order for his arrest stated that what led to such an action by the secret service at this point needs further clarification so as not to create misunderstanding and wrong perception about the motive.

    He added that without holding brief for the CBN governor who he believes should be able to defend himself as he is not above the law, his concern is that as a victim of a similar wrong and politically-motivated accusation, he felt that there were some clouds around the DSS court action coming two months to the general election, particularly at a time the apex bank introduced tough guidelines on the cashless regime and change of currency which could work against those who had planned to resort to vote-buying in the election.

    “As somebody who had been wrongly accused of involvement in the Offa robbery by political opportunists and manipulators before their evil plots now begin to unravel in the court of law, I feel that a similar intrigue is being weaved by those who are bent on sabotaging the 2023 elections as the obvious outcome is not going their way.

    “In this court case in which the CBN governor is being accused of terrorism through a suit which the Federal High Court has now described as frivolous and without concrete evidence, my position is not to support Emefiele but to support democracy which is being targeted by the plotters.

    “With all the due respect that I have for the DSS as a very professional security agency, I still found it very difficult to understand what led to the charges, why concrete evidence that will enable the court to take a good decision was not provided and why the Department gave room for suspicion and speculations as the case file have gapping holes as noted by the Honourable Judge John Tsoho.

    “One of the suspicions this case has raised is that it is part of a grand plot by those who want to undermine and sabotage the coming general election because their calculation on vote buying, rigging, and excessive use of money is falling apart. The new CBN regulation on a cashless regime in which individuals can only withdraw N100,000 a week and N20,000 per day is sure to frustrate the partisan fraudsters, the mischievous politicians and unpatriotic elements who aim to win the election at all costs even when they are being rejected at the polls.

    “The CBN guidelines have derailed the plan of those who believe that they will not allow the ‘one man, one vote system’ in which the electorate freely choose their representatives in a fair and peaceful atmosphere. I urge the DSS, police, NSCDC, the military, and all security agencies to be wary of political manipulators, despots, and anarchists who may want to use the case to derail the free and fair election regime that the new Electoral Act, INEC and President Muhammadu Buhari have promised.

    “These same undesirable elements in the political process have attempted to use the National Assembly to scuttle the electoral process by frustrating the provisions on electronic transmission of results, use of Biometric Voters Accreditation System (BVAS), the new guidelines on currency change and cash withdrawal. They failed. They have also put pressure on the presidency to reverse some of these innovations. They did not succeed. Now, they are resorting to the use of the judiciary.

    “Their desperate resort to the manipulation of the judicial process and the use of security agencies who may be inadvertently lending support to the plot without knowing the full implication and ramifications should remind Nigerians of the antics of the Association for Better Nigeria (ABN) which was used by anti-democratic elements during the military transition programme in the early 90s.

    “I hereby urge the security agencies to distance themselves from the anarchists and anti-democratic elements masquerading as democrats or political players. With the current situation in the country, all the citizens, national institutions, residents, and foreign friends of Nigeria should commit to the goal of having free, fair, peaceful, and credible polls in 2023. It is my prayer that next year’s election should provide a positive turning point for rebuilding, refocusing, resetting, redeeming, restructuring, repositioning, and revamping our country”, Saraki stated.

  • Stamp Duties Controversy: Reps Speaker meets Buhari, says Kazaure ‘on his own’

    Stamp Duties Controversy: Reps Speaker meets Buhari, says Kazaure ‘on his own’

    President Muhammadu Buhari on Tuesday met behind closed door with the Speaker of the House of Representatives, Femi Gbajabiamila, at the Presidential Villa, Abuja.

    Speaking to State House correspondents at the end of the meeting, the speaker said he discussed various national issues with the president, including next year’s general elections, associated rising violence and the controversies trailing recently introduced cashless policy.

    Gbajabiamila, who also reacted to the Gudaji Kazaure/Stamp Duties funds controversy, said the matter the member was involved in had nothing to do with the National Assembly.

    Kazaure, a member of the House of Representatives from Jigawa, in a viral video, had allegedly accused Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of attempts to cover-up facts surrounding the collection of the controversial stamp duty funds.

    He also alleged that he was deliberately being denied access to present preliminary Report of a committee set up by Buhari to look into the alleged stamp duty funds being withheld by the CBN.

    Also in the viral video, the Kazaure urged the president to either allow him to present his Report to him or immediately order thorough investigation of the alleged stamp duty funds.

    Gbajabiamila also ruled out an intervention from the House of Representatives, saying that would only happen if it becomes necessary, saying the matter had nothing to do with the legislature.

    He said: “Kazaure, from my understanding, is working with whoever he’s working with. If it necessitates the House coming in, we will come in.

    ”If he has an official function, he should go ahead and do his work, but this has nothing to do with National Assembly. Not that I know of.

    “It was not based on a resolution of the National Assembly. It was not based on a motion from the National Assembly.

    ”I believe he said he had executive authority to do what he’s doing. If that be the case, then it’s got nothing to do with the National Assembly.”

    Gbajabiamila said that the House can only call Kazaure to order if he was impugning on the integrity of the House, individuals or leadership of the House that have nothing to do with what he was doing.

    He said: ”I think it’s important to separate the two. If he has a mandate to do something, that’s on him.

    “When it came up, we have asked members of the executive, they said they were not aware of any mandate, or such mandate has been withdrawn.

    ”I don’t want to get into it, except to the extent that he attempts to impugn on the integrity of members of the House and that’s a no no. We have nothing to do with this.”

    The presidency had on Dec. 11 dismissed as fake and untrue that Emefiele, could not account for about N89.1trillion the CBN allegedly collected as Stamp Duty charges.

    On his meeting with the president, Gbajabiamila said his visit was routine, adding that they had discussions on critical national issues.

    They included issues around the Central Bank of Nigeria’s recent cashless policy and the issue of political violence in different parts of the country.

    Gbajabiamila said: “We discussed things that came up in the last few weeks, things come up every day in Nigeria, every day and in the last few days, some things have come up.

    ”I’m sure you know some of these things, and I just wanted to get his perspective on them and give him mine and that of the National Assembly’s perspective and position on those matters. We had a fruitful discussion.”

  • House of Reps reschedules Emefiele’s appearance to explain Withdrawal limit

    House of Reps reschedules Emefiele’s appearance to explain Withdrawal limit

    Nigeria’s  House of Representatives has scheduled another date for the Central Bank Governor, Godwin Emefiele to appear before it.

    The honourable members unanimously agreed that Emefiele should appear before them next week.

    His visit was initially scheduled for Thursday, December 15th, but the CBN Governor went with President Buhari on a visit to Washington DC.

    Emefiele’s appearance before the house is to explain the new withdrawal limit POLICY newly introduced by the CBN.

    However, Emefiele’s letter was read to the house by Deputy Speaker Idris Wase who presided over Thursday’s session.

    The lawmakers subsequently resolved that the CBN governor must appear on Tuesday to brief the entire House.

    Recall that the newly redesigned naira note have been pushed into circulation Today, Thursday and the Withdrawal limit is expected to kick start too.

  • New Naira: No Extended deadline, January 31 remains – Emefiele

    New Naira: No Extended deadline, January 31 remains – Emefiele

     

    The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, on Tuesday insisted that the deadline for the new naira notes would not be extended.

    Emefiele stressed that the January 21, 2023 deadline is sacrosanct.

    “No, we will not shift any deadline, what we have done is not against the law; it’s in tandem with the law.

    “We announced this programme on October 26, 2022, and we said upon release of the new currency, the legal tender status will run concurrently with the old currency till 31 January 2023.

    “That is almost 100 hundred days, 100 days is enough for any person in any part of Nigeria to deposit his money in the bank and get ready to withdraw cash when the new notes are released,” the Central Bank governor explained.

  • Finance minister disowns Emefiele over plan to redesign naira

    Finance minister disowns Emefiele over plan to redesign naira

     

    …Finance minister says she was not informed

    Barely 48hours after the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele declared that the apex bank would redesign the country’s currency December 15, 2022, the Federal Government Friday disagreed with him.

    Minister of Finance, Budget and National Planning , Zainab Ahmad who rejected the policy, said if implemented, the redesigning would portend great consequences for the nation and its economy.

    Zainab who commented on the policy in response to question raised by Senator Opeyemi Bamidele, during the 2023 budget defence session, warned CBN of consequences that may arise from it .

    Senator Bamidele who had in his question told the Finance Minister that barely two days after announcement of the policy by CBN , repercussion of it on the value of Naira to US dollar was being felt, said, ” Just two days after announcement of the policy , value of Naira to a US dollar has risen from N740 to N788 to a US dollar due to rush in exchange of starched Naira Notes for foreign currencies , particularly dollar.

    “To me , the policy may be a well conceived one , but the timing going by realities on ground , is very wrong as the Naira may fall to as low as N1,000 to a US dollar before January 31, 2023 fixed for full implementation of the policy.”

    While answering the question, the Minister said she is not aware of the policy but only heard of it from the media .

    She said, ” Distinguished senators , we were not consulted at the Ministry of Finance by CBN on the planned Naira redesigning and cannot comment on it as regards merits or otherwise .

    “However as a Nigerian privileged to be at the top of Nigeria’s fiscal management , the policy as rolled out at this time , portends serious consequences on value of Naira to other foreign currencies.

    “I will however appeal to this committee to invite the CBN governor for required explanations as regards merits of the planned policy and rightness or otherwise of its implementation now.”

    Recall that CBN Governor Emefiele had on Wednesday said that the apex bank would redesign the country’s currency from 200 Naira denomination to N1,000 notes .

    Emefiele said the action was taken in order to take control of the currency in circulation just as he posited that the bulk of the nation’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue.

    According to him, the planned policy he added , was in line with Sections 19, Subsections a and b of the CBN Act 2007, upon which the Management of the CBN sought and obtained the approval of President Muhammadu Buhari to redesign, produce, and circulate new series of banknotes at N200, N500, and N1,000 notes.