The Economic and Financial Crimes Commission (EFCC) has declared Mrs. Margaret Emefiele, wife of the former governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, wanted for alleged money laundering. According to EFCC’s spokesman, Mr. Dele Oyewale, speaking in Abuja, “Three other persons had been declared wanted alongside Margaret on the same office.” Read More…
Nigeria’s Central Bank has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank for non-compliance with banking regulations and corporate governance failures. The affected lenders are privately held and have come under government control in the past. According to a statement by the Central Bank of Nigeria (CBN), the Board and Read More…
The Economic and Financial Crimes Commission (EFCC) conducted a book inspection at the Dangote Group, probing potential misuse of foreign currency obtained from the central bank, according to two sources familiar with the agency’s actions. Sources within the EFCC disclosed that the inspection at Dangote’s offices in Lagos was part of an investigation expanding beyond Read More…
In a significant court ruling, Justice Hamza Muazu of the Abuja High Court ordered the remand of former Central Bank Governor Godwin Emefiele at the Kuje Correctional Centre until November 22. This decision followed his arraignment on six counts by the Economic and Financial Crimes Commission (EFCC), entailing allegations of procurement fraud amounting to N6.9 Read More…
Nigerian inflation continued its upward trajectory for the tenth consecutive month in October, intensifying expectations for the new central bank governor to consider interest rate hikes in the upcoming monetary policy committee meeting—the first since his appointment. “Consumer inflation soared to 27.33% year on year in October, marking an 18-year peak, escalating the challenge for Read More…
In a significant legal development, the embattled former Central Bank Governor, Godwin Emefiele, has been granted bail by the Federal Capital Territory High Court. Justice Olukayode Adeniyi made this ruling based on Emefiele’s application for the enhancement of his fundamental rights. Justice Adeniyi, in his ruling, expressed concern over the prolonged detention of Emefiele, stating, Read More…
Justice Olukayode Adeniyi of an FCT High Court issued an order on Thursday directing the Economic and Financial Crimes Commission (EFCC) to immediately release the embattled former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, or bring him before the court on November 6. The order was given following the court’s consideration Read More…
The Economic and Financial Crimes Commission (EFCC) has taken former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, into custody shortly after his release from Department of State Services (DSS) detention, according to reports. Emefiele is currently undergoing interrogation at the EFCC’s headquarters in Abuja. Sources suggest that the anti-graft agency is investigating Emefiele over Read More…
The proceedings for the case of procurement fraud against Nigeria’s suspended and detained central bank governor, Godwin Emefiele, encountered a setback on Wednesday, with no new hearing date being set. Emefiele was scheduled to present his plea on Wednesday, but he did not appear in court, and his case was notably absent from the court’s Read More…
Nigerian central bank governor Godwin Emefiele, currently suspended and detained, faces a 20-count indictment, including the charge of “conferring unlawful advantages,” as revealed by government prosecutors on Tuesday. President Bola Tinubu, a driver of substantial reforms within Africa’s largest economy in over a decade, has initiated an investigation into the central bank under Emefiele’s leadership. Read More…
