The Nigerian Federal Government has suspended the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The embattled banker was arrested in Lagos by the Department of State Services (DSS) on Saturday, June 10th, and flown to Abuja for questioning.
The suspension is reportedly tied to a staggering $1 billion scandal that unfolded just before the Presidential inauguration.
This newspaper learned that suspicions arose after Emefiele’s borrowing of $1 billion from Afrexim Bank on April 24, 2023, after the elections, during preparations for the May 29 inauguration.
Shockingly, within two days of receiving the money, $750 million was swiftly transferred to Aliko Dangote’s Dubai accounts using a ‘Form A’. It is alleged that the President-Elect, Bola Ahmed Tinubu, was kept in the dark about this transaction.
The huge fund was received from Afrexim Bank into the CBN’s JP Morgan account on April 24, 2023, out of which $750 million was immediately transferred to Dangote’s Bluestar Dubai account within two days using the “Form A” transaction method, bypassing the requirement of a Letter of Credit.
Bluestar has had ties to Dangote since 2007.
Sources within the CBN also claim that Emefiele sold dollars to Dangote at an unbelievably low rate of 445 Naira to the dollar.
While some CBN officials raised concerns about these transactions, this revelation highlights the potential for money laundering and illicit activities within Nigeria’s financial system, tarnishing the CBN’s integrity under Emefiele’s leadership. Recognising the gravity of the situation, the President took decisive action by suspending Emefiele and ordering a thorough investigation.
More to come…..
God will be leaking all of them Secret starting from their master buhari &CO and they will be shouting that there is no money &people are suffering in the nation their secret will be leaking Amen
Amen but count Former President Buhari out. He is corruption free.
It is our money they are talking about here that’s being recklessly and fraudulently splashed off. And millions are living in abject poverty. Judgement is coming not only for Emefele but for many others to follow
Unbelievable
God of the poor is after them one after the other
It’s not enough to just investigate these scandals, but there should be commensurate prosecution and punishment. Otherwise, it’s meaningless