TheCable

Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), is set to regain his freedom from the custody of the Department of State Services (DSS).

Sources at the ministry of justice told TheCable that the presidency has directed the Economic and Financial Crimes Commission (EFCC) to handle Emefiele’s case.

On June 9, President Bola Tinubu suspended Emefiele and asked him to transfer his responsibilities to Folashodun Adebisi Shonubi, then deputy governor, operations directorate.

The 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 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 TheCable had reported that Emefiele was proposing a plea bargain agreement.

The agreement required Emefiele to resign as CBN governor and “disgorge” some assets.

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

On Wednesday, Abdulrasheed Bawa, former chairman of the Economic and Financial Crimes Commission (EFCC), was released from DSS custody.

Sources privy to the development confirmed his release to TheCable but provided no further information on the prevailing circumstances.

Bawa was arrested by the secret police shortly after he was suspended as chair of the EFCC  in June over “abuse of office”.