Why EFCC arrested Emefiele after DSS released him

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Former Governor of the Central Bank of Nigeria, Godwin Emefiele, was arrested on Thursday night by operatives of the Economic and Financial Crimes Commission, less than an hour after he regained his freedom from the dungeon of the Department of State Services.

TheLeadng learnt that he was arrested by the anti-graft agency over allegations of impropriety during his term as the head of the apex bank.

An impeccable source revealed that Emefiele is currently being interrogated at the National Headquarters of EFCC in Jabi, Abuja. It was learnt fresh charges may be filed against Emefiele by the EFCC.

“Yes, Emefiele is currently in our (EFCC) custody; he was arrested last night less than an hour after the DSS freed him. He’s currently being interrogated at the headquarters, as he’s being investigated for alleged misappropriation of funds amongst other things during his term as CBN governor,” the source noted.

Meanwhile, the spokesperson for the EFCC, Dele Oyewale, could not be reached for official confirmation.

Emefiele had been in the custody of the DSS since June after President Bola Tinubu suspended him from office.

He was thereafter asked to hand over his responsibilities to Folashodun Shonubi, the then Deputy Governor, Operations Directorate at the apex bank.

A day after, the DSS announced that Emefiele was in its custody for ‘some investigative reasons’.

On July 25, he was arraigned on a two-count charge bordering on “illegal possession” of firearms at a federal high court in Lagos and was granted bail in the sum of N20 million.

The two-count charge was later struck out on August 17 after the Federal Government withdrew the same.

However, a fresh 20-count charge was instituted against him over an alleged conspiracy to carry out procurement fraud, among others.

The arraignment has been stalled twice, and Emefiele was reported to have proposed a plea bargain agreement with the Federal Government.

The proposed agreement required Emefiele to resign as CBN governor and ‘disgorge’ some assets.

However, on September 22, the CBN officially confirmed Emefiele’s resignation after Olayemi Cardoso was appointed as substantive governor of the apex bank.