Tinubu who broke silence on the arrest and detention of Emefiele on Friday, during an interactive session with Nigerians residing in France and neighbouring countries, said the financial system was rotten under Emefiele.
President Bola Tinubu says the former Central Bank Governor, Godwin Emefiele, was suspended because of how he messed up the financial system of the country.
SaharaReporters had reported that the president had on June 9, suspended Emefiele to allow for investigation into some allegations levelled against him concerning his activities as the CBN governor.
President Tinubu who broke silence on the arrest and detention of Emefiele on Friday, during an interactive session with Nigerians residing in France and neighbouring countries, said the financial system was rotten under Emefiele.
He said “Then the financial system was rotten. Few people made bags of money and then you yourself, you stopped sending money home to our poor parents. Several windows. But that is gone now. It’s gone.
“The man is in the hands of the authorities. Something is being done about that. They will sort themselves out.”
SaharaReporters had also reported that the suspended Central Bank Gov., Emefiele was arrested by the Nigeria's secret Police, the Department of State Services (DSS) for alleged economic crimes, sabotage, incitement to violence, stealing of public funds among others.
The DSS in an affidavit of facts presented in court while seeking an order of court to detained Emefiele had listed these reasons for arresting him.
It said Emefiele was arrested “upon reasonable suspicion of committing acts which constitute a criminal breach of trust, incitement to violence, criminal misappropriation of public funds, economic sabotage, economic crimes of national security dimension and undermining the security of the Federal Republic of Nigeria.”
Meanwhile, the DSS and the Office of Attorney General of the Federation (OAGF) on Tuesday asked the Federal Capital Territory High Court not to grant bail to the suspended governor of the apex bank.
They argued that the suspended governor of the apex bank would flee the country if granted bail.
The DSS and the OAGF described Emefiele who is challenging his detention by the secret police as a “flight risk.”
In May, SaharaReporters exclusively reported that Emefiele had already paid for studies abroad after being reportedly granted study leave by then-President Muhammadu Buhari.
Sources told SaharaReporters that Emefiele made payments through the apex bank, using six departments to avoid detection.
To avoid detection, Emefiele spread the payment through six departments in the bank, each paying for the flight, accommodation, study materials, schools fees and sundry individually, " one of the sources had said.
SaharaReporters had exclusively reported how the study leave would offer the apex bank governor an opportunity to flee the country before Buhari’s exit from office on May 29, 2023 amid corruption and terrorism-financing allegations against him.
SaharaReporters had reported that the country’s secret police, the Department of State Services, which made futile attempts to arrest and detain Emefiele in the past over the damning allegations against him, was not happy about the prospect of seeing the CBN governor evade justice.
“The DSS has kicked against the study leave reportedly granted to Emefiele as it means he will flee the country before May 29 when another government comes in,” the source had said.
Former Zamfara State Governor, Bello Matawalle, subsequently urged then-President Buhari not to grant any “study leave” to Emefiele, a few days before the inauguration of a new administration, saying the suspended CBN governor must remain in Nigeria to give full accounts to the incoming administration.
In March, a former lawmaker, Senator Shehu Sani, said Emefiele’s life would be made miserable by the incoming administration of 'president-elect', Tinubu.
According to Sani, Emefiele’s life and activities under the incoming government will be like ‘Zebra in the hands of Tigers’.
Sani, who represented Kaduna Central Senatorial District in the 8th Assembly stated this a week after the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, declared Tinubu as the winner of the 2023 presidential election.
Considering the controversies that have surrounded the Naira redesign and cashless policy under Emefiele’s leadership in CBN and the fact that Tinubu alleged that the Naira redesign policy was targeted at sabotaging his presidential ambition, Sani said, “When Baba is gone, Emefiele will be like Zebra in the hands of Tigers.”
Meanwhile, at the resumption of hearing on Tuesday, the DSS and the OAGF stated their prayer to the court in separate counter-affidavits filed in a fundamental rights enforcement suit by the suspended CBN chief.
However, the OAGF in its affidavit dismissed the speculation that Emefiele was being held for terrorist-related crimes. It also said he was not being victimised for his involvement in politics and the botched naira redesign policy.
The OAGF stated, “Issues of terrorism financing and fraudulent activities are not part of the grounds for the arrest and detention of the applicant.
“The respondents have not violated the applicant’s right to live in any way, his life is not in danger. The respondents did not subject the applicant to any judicial adjudication to warrant the allegation of denial of a fair hearing.
“With the remand order issued by a court of competent jurisdiction, the said violation of the applicant’s right to freedom of movement does not arise.
“The respondents did not subject the applicant to any torture, the details of which have not been provided.”
Counsel for the OAGF, Tijani Gazal, urged the court to dismiss the suit by Emefiele, arguing that the embattled suspended CBN boss’ allegation of unlawful detention was unfounded.
According to Gazali, the suspended CBN governor was being detained on the order of an FCT Chief Magistrates Court.
Justice Hamza Muazu adjourned the case till July 13, 2023 for a ruling.