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Emefiele Hasn’t Returned To Nigeria, Should Be Arrested On Arrival, Says Falana

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Human rights lawyer and Senior Advocate of Nigeria, Femi Falana says the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has not returned to the country following allegations of terrorism financing levelled against him by the Department of State Services (DSS).

“I can say without any fear of contradiction that Mr Godwin Emefiele is not in Nigeria; he hasn’t returned to the country because he has been declared wanted by the state security services,” Falana said on Channels Television’s Sunday Politics.

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The secret police had approached an Abuja court to arrest Emefiele over alleged terrorism financing and economic crimes of national security but Justice Maryam Hassan of the Federal Capital Territory High Court Abuja quashed the move by the DSS.

The judge thereafter barred the DSS from arresting, inviting, or detaining Emefiele declaring the terrorism allegations against the CBN governor by the DSS as vindictive, callous, oppressive, void and of no effect.

However, Falana on Sunday said the DSS does not need a court order to arrest the CBN governor if the Service has concrete evidence against him. He urged the DSS to proceed to arrest Emefiele upon his arrival in Nigeria, noting that the apex bank governor is not one of those constitutionally entitled to immunity in Nigeria.

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Falana described as embarrassing the allegations against Emefiele by the DSS, saying this can only happen in a Banana Republic where the governor of the apex bank would be accused of a grave offence of terrorism financing.

“Has the government considered the enormous implication of the effect of a wanted governor of the central bank on the economy?

“I am completely flabbergasted that the President of the country has not intervened; either to call the state security to order or to call Mr Emefiele to return to the country or be fired,” the senior lawyer said.

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He recalled that Emefiele’s predecessor, Sanusi Lamido Sanusi was also accused of terrorism financing in 2014 but won the case.

“These guys play on our collective intelligence because they know we are very forgetful. In 2014, his (Emefiele’s) immediate predecessor, former Emir of Kano, Alhaji Sanusi Lamido Sanusi, was equally accused of terrorism financing.

“In the same way, he (Sanusi) also travelled out of the country to attend a meeting with the governors of the central banks of West Africa in Niamey, Niger Republic.

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“As soon as he landed in Lagos, he was arrested, his passport was seized,” Falana said.

The senior lawyer said Sanusi won the case and the court awarded N50m compensation in favour of Sanusi.

Falana stressed that the allegation of terrorism financing against Emefiele should not be dismissed.

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JUST IN: IMF ask CBN to extend Feb 10 deadline for old naira notes

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By Francesca Iwambe

The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to extend the February 10 deadline for the use of old naira notes if the difficulties in getting new notes persist.

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According to the IMF, the call become necessary as the development had led to the disruptions to trade and payments due to the shortage of new noted in the bank.

The call was contained in a statement made available to journalists on Wednesday.

“In light of hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public, in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline, should problems persist in the next few days leading up to the February 10, 2023 deadline,” the statement reads.

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BREAKING: Supreme Court suspends February 10 deadline for naira swap

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By Francesca Iwambe, Abuja

The Supreme Court of Nigeria has restrained the Central Bank of Nigeria (CBN) and Federal Government from ending the legal tender statuses of old N200, N500 and N1000 banknotes on February 10, 2023.

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The apex court made the order following the suit filed by three State governments challenging the Naira swap policy.

Recall that governments of Kaduna, Zamfara and Kogi States had approached the Supreme Court seeking an order to stop the policy.

Naijablitznews.com will bring you more details shortly

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CBN captures more Communities as currency swap is continuous in Taraba

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Emmanuel Awari-Jalingo

The Central Bank of Nigeria (CBN), on Friday extend her currency swap exercise to more Communities of Yorro, Ardo-Kola and Ibi local government areas of Taraba state.

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The Director Financial System Strategy, Central Bank of Nigeria, Ibrahim Hassan who disclosed this to our correspondent in Jalingo said, the development was in continuation of the CBN initiative targeted at ensuring that all rural dwellers in Taraba have their old naira notes swapped to new ones or deposited in banks before the extended CBN deadline for currency swap.

Hassan noted that the currency Swap Initiative was to help save communities who do not have access to bank, swap their old naira notes to the new notes.

“Just as we have been doing to ensure that people in the rural Communities of Taraba who do not have access to Bank have their old naira notes swap to new ones. CBN delegation have been drafted to more Communities of Yorro, Ardo-Kola and Ibi local to ensure success of the initiative.

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“CBN delegation for Yorro is led by Mr Jackson Imandi, the Deputy Director, the one Ardo-Kola is led by Mr. Kazeem Olatinmu while the one in Ibi local government is been led by the CBN Head of Banking Services in Taraba State, Hayatu Yahaya Shehu to ensure the villagers gain advantage of the Ten days extension for the currency swap” Hassan explained.

When contacted, the chief of Mumuye in Yorro local government, Ado Adamu Manang, that of Ibi, Abubakar Salihu Danbaw and some beneficiary of the exercise in Ardo-Kola local government, Mohammed Musa, Hafsatu Babangida and Isa Mahmud, commended the central Bank of Nigeria for the exercise as it was the best for villagers and promised to help create massive awareness for people to swap their old naira notes to the new ones.

According to them, businesses were already collapsing as people were no longer accepting the old naira notes even before the extended window.

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