Nigeria's suspended central bank governor Emefiele charged with 'criminal' offences

Nigeria's suspended central bank governor Emefiele charged with 'criminal' offences

Godwin Emefiele was suspended in June by President Bola Tinubu and subsequently arrested.
Nigeria's Central Bank Governor Godwin Emefiele has been in detention his arrest in June. Photo: Reuters

Nigeria's secret police have charged the country's suspended central bank governor Godwin Emefiele with criminal offenses.

Mr Emefiele, 61, has been in detention since June when the secret police known as the Department of State Security, DSS, arrested him shortly after his suspension.

The DSS has not given details of the charges, but said they relate to ''criminal infractions.''

Nigerian President Bola Ahmed Tinubu suspended Godwin Emefiele last month against the backdrop of what the government called an ''ongoing investigation'' into activities of the central bank governor's office as well as the government's plans to carry out ''reforms in the financial sector of the economy.''

He was then detained by the secret police. Godwin Emefiele became Nigeria's central bank governor in 2014. Nigeria is Africa's largest economy. The Central Bank of Nigeria has recently sparked controversy after it started the implementation of a new currency policy.

It introduced newly redesigned notes into the economy phasing out the existing notes in what the authorities said was an attempt to curb corruption, tackle insecurity and force excess cash back into the banking system.

The bank had said more than 80% of cash in circulation was being hoarded by individuals outside banks.

The policy implemented just before Nigeria's presidential elections in February had caused shortages of cash with long queues at banks and cash machines.

The measure was later suspended by the central bank following a supreme court ruling and public outcry.

TRT Afrika