How Emefiele Pulled Billions of Dollars from CBN without Buhari’s Approval, Presidency Explains

• Former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, allegedly pulled billions of dollars without Muhammadu Buhari's approval
• Ajuri Ngelale, spokesperson for President Bola Tinubu, said Emefiele was able to do that because he was supervising himself
• He said Nigeria's foreign reserves were depleted to the tune of billions of dollars during the tenure of the embattled former governor of CBN

Legit.ng journalist Adekunle Dada has over 5 years of experience covering metro and government policy

FCT, Abuja - Ajuri Ngelale, spokesperson for President Bola Tinubu, said former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, pulled billions of dollars from Nigeria’s foreign reserves without the approval of former president Muhammadu Buhari.

Ngelale said the approvals for the release of funds did not have the signature of Buhari, Daily Trust reported.

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He stated this during an interview with media personality, Chude Jideonwo on Monday, March 11.

“What was done concerning the expenditure of billions of dollars from the foreign reserves was done largely without the approval or knowledge of President Muhammad Buhari and President Bola Tinubu. Yes, that might seem hard for some people to believe, but I want to explain how that could have happened."

Explaining how Emefiele was able to withdraw funds without Buhari’s approval, the presidential spokesman said:

“We have one of the few Central Banks in the world where the day-to-day CEO was the governor of the Central Bank and was also the chairman of the board of directors. He was essentially overseeing himself.”

As reported by Channels TV, Ngelale said one of the forged approvals was the $6.2m released in cash by the CBN allegedly to take care of foreign election observers.

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He said the Buhari administration has to take some responsibility for some of the things that happened in the CBN under Emefiele.

EFCC accuses Emefiele of impersonating Buhari's SGF

Legit.ng earlier reported that Emefiele was enmeshed in another legal battle as the Economic and Financial Crimes Commission (EFCC) amended its charges against him for the third time.

The EFCC, in the amended charges before Justice Hamza Muazu of the Federal Capital Territory High Court in Abuja on Thursday, January 18, alleged that Emefiele illegally obtained a sum of $6.2m by impersonating former secretary to the state government (SGF), Boss Mustapha.

in the amended charge with suit number CR/577/2023, Emefiele, on February 8, 2023, allegedly connived with one Odoh Ocheme, who is now wanted, to obtain $6.2m from the apex bank.

Source: Legit.ng