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Breaking: Former CBN Governor Accused Of Illegally Lodging-Billions In Foreign Accounts And Facing Additional-Charges (Details)

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Godwin Emefiele, the former Central Bank of Nigeria (CBN) Governor, is facing serious allegations of unlawfully depositing billions of naira across 593 bank accounts in the United States, United Kingdom, and China without the required approvals from the CBN’s board of directors and the CBN Investment Committee. The findings were presented by the Special Investigator on the CBN and Related Entities, Jim Obaze….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

The investigation revealed that Emefiele, during his tenure, deposited £543,482,213 in fixed deposits in UK banks alone without proper authorization. Emefiele, currently in the Kuje Custodial Centre and facing prosecution for N1.2 billion procurement fraud, has not yet responded to the allegations.

President Bola Tinubu appointed Obazee, a former Executive Secretary of the Financial Reporting Council of Nigeria, as the CBN special investigator. The final report, submitted to President Tinubu, highlighted Emefiele’s unauthorized investments in foreign bank accounts and raised concerns about the handling of the CBN naira redesign policy.

The report indicated that Emefiele could face fresh criminal charges related to the illegal issuance of currency under section 19 of the CBN Act. These charges may involve Tunde Sabiu, a former aide to President Muhammadu Buhari, and 12 top directors of the CBN. The naira redesign policy, initiated without board approval, has become a focal point for potential legal actions.

The investigator found that President Buhari did not approve the naira redesign policy, which was suggested by Tunde Sabiu. Emefiele proceeded with the initiative without obtaining the required approval, leading to the awarding of the contract for the redesign to De La Rue of the UK. The report stated that the redesign was only communicated to the CBN board after the contract had been awarded.

Emefiele is also implicated in the fraudulent use of N26.627tn in Ways and Means of the Apex Bank, as well as the misuse of the COVID-19 intervention fund. The investigation revealed instances where funds were diverted, padding of presidential approvals, and questionable legal fees amounting to N1.7bn for 19 cases related to the naira redesign policy.

Additionally, Emefiele is accused of misrepresenting the presidential approval for the NESI Stabilisation Strategy Limited and unlawfully paying N17.2bn to 14 deposit money banks participating in the Nigerian Electricity Market Stabilisation Facility.

The investigation further uncovered a strange illegal withdrawal/theft of $6.23mn from the CBN vault by two individuals who used a forged presidential letter. Emefiele may also face charges related to the manipulation of the naira exchange rate, fraudulent implementation of the e-naira project, and the exemption of three foreign firms from paying income tax.

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Security Breach! NBA Presidential Election Put On Ice Following Massive Online Assault.

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The Electoral Committee of the Nigerian Bar Association (ECNBA) has indefinitely postponed the start of the 2026 national elections following a targeted cyberattack on its electronic voting platform. Although voting was scheduled to begin at midnight on Saturday, July 18, 2026, the exercise was halted due to a “deliberate, coordinated and sustained” attempt to compromise the system.....KINDLY READ THE FULL STORY HERE▶

The ECNBA has issued an apology to all stakeholders, including candidates, voters, and observers, for the disruption. In response to the breach, the committee’s cybersecurity experts and voting service provider have activated emergency protocols to neutralize the threat and secure the infrastructure.

  • Technical teams are currently working to restore the system to ensure the election proceeds with its credibility intact.

  • The voting platform is not currently accepting ballots, and no new start time has been announced.

  • The portal will only be reopened once technical experts confirm the system is fully operational and safe.

Safety Precautions and Official Communication

The ECNBA has issued a stern warning to lawyers to avoid unofficial platforms, malicious links, or unauthorized messages claiming to provide access to the voting portal. Eligible voters are advised to await official communication from the ECNBA and to rely exclusively on information released through the committee’s official channels.

Despite the delay, the electoral body confirmed that the process remains under the supervision of the committee, with candidates, agents, and independent observers stationed at the designated monitoring center. Signed by Chairman Aham Ejelam (SAN) and Secretary Ibrahim Nassarawa, the statement reaffirmed the committee’s commitment to delivering a transparent and credible election once all security threats are mitigated.

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150 Days In Custody: El-Rufai’s Wife Sounds Alarm Over Deteriorating Health In Detention.

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Asia Ahmad El-Rufai, a lawyer and the wife of former Kaduna State Governor Nasir El-Rufai, has issued an appeal to the international community to scrutinize her husband’s ongoing incarceration, which she characterizes as “punishment before trial”. Marking the 150th day of his detention, she urged foreign governments, international human rights organizations, and multilateral groups to monitor the legal proceedings, arguing that his continued imprisonment threatens Nigeria’s democratic foundations.....KINDLY READ THE FULL STORY HERE▶

Asia highlighted the severe physical and emotional impact the five-month detention has had on her husband and family, noting the loss of family milestones and access to proper medical care. She specifically alleged that the former governor suffered serious health crises while in custody, including bleeding from his nose and mouth, and claimed that authorities were hesitant to provide adequate medical attention or accept prescribed medication from his family.

She further asserted that this treatment has extended to her husband’s associates, specifically citing the prolonged detention and solitary confinement of Joel Adoga, the health deterioration of Jimi Lawal, and the difficult bail conditions imposed on his personal physician, Professor Abubakar Bello.

Allegations of “Lawfare” and Political Persecution

Asia argued that the legal proceedings against her husband are intentionally confusing and punitive, involving overlapping charges, duplicated claims, and shifting legal arguments across multiple courts. She alleged that authorities are using the judicial system as a political weapon—a practice she termed “lawfare”—to keep him detained regardless of bail conditions.

She contends that her husband’s predicament stems from his political rupture with President Bola Tinubu’s administration and his departure from the All Progressives Congress (APC). While she emphasized that she does not seek special treatment or immunity from investigation, she insisted that any such process must be transparent, impartial, and compliant with constitutional safeguards.

An Appeal to International and Domestic Authorities

Directly addressing President Tinubu, Asia cautioned that history is often critical of leaders who use their power to silence critics. She urged the President to allow the judiciary to operate independently and fairly. Furthermore, she called on Nigeria’s diplomatic and development partners to ensure that international support for Nigerian institutions does not inadvertently facilitate the suppression of political opposition.

“Nigeria’s friends must understand that this case is larger than Nasir El-Rufai,” Asia stated, noting that the situation raises broader questions regarding judicial independence and whether citizens can remain protected by law after falling out of political favor. She concluded by requesting that her husband be granted proper access to his legal team, doctors, and family to address any credible allegations against him in an open, fair court.

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NBA ELECTION SHOWDOWN: Osigwe Defies AGF, Declares Attorney General Powerless To Stop Polls!.

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Nigerian Bar Association (NBA) President, Afam Osigwe (SAN), has firmly rejected recent calls from the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), to postpone the association’s national elections. Osigwe asserted that the AGF lacks the legal authority to dictate or alter the NBA’s electoral process, warning that doing so would undermine the independence of the legal profession and breach the association’s constitutional framework.....KINDLY READ THE FULL STORY HERE▶

The controversy stems from the AGF’s advice that the NBA suspend its July 18, 2026, polls, dissolve its current Election Committee, and implement the National Identification Number (NIN) for voter verification. During an interview on Arise News this Friday, Osigwe clarified that while the AGF’s opinions are noted, they are not binding directives. He emphasized that the NBA is governed by its own Constitution, the Legal Practitioners Act, and other established regulatory instruments—none of which grant the AGF power to intervene in the association’s internal affairs.

“Suggesting that he [the AGF] has the power to postpone our elections would imply that the NBA is merely a department under the Office of the Attorney General,” Osigwe stated. He noted that while the Bar is open to considering advice, it cannot comply with “must-do” directives that conflict with its governing laws.

Upholding Constitutional Eligibility and Opposing External Impositions

Osigwe also addressed ongoing debates regarding zoning and consensus candidates. He maintained that the NBA Constitution clearly defines the criteria for presidential aspirants, requiring candidates to be at least 15 years post-call, have served on the National Executive Council for at least two years, and be fully up-to-date with their practice fees and branch dues for the preceding three years.

He rejected attempts by external interest groups to force their preferred candidates upon the association, calling such actions illogical. “They accuse the Bar of various things and turn around to accuse others of trying to impose a candidate, when they are actually the ones imposing a candidate,” he remarked. Osigwe underscored that any member who meets the constitutional requirements is entitled to run for office, regardless of endorsements from external bodies.

Commitment to a Transparent Process

Regarding the upcoming election, the NBA President defended the inclusivity of the race, noting that the presence of a female candidate highlights the association’s commitment to equal opportunity.

To ensure credibility and transparency, Osigwe confirmed that the NBA has invited international and civil society observers—including the EU and Yiaga—to monitor the process. Addressing skeptics who fear electoral malpractice, he insisted that all concerns have been thoroughly addressed to build trust.

“Everything is in place, and the electoral body is ready to conduct it,” Osigwe said. He concluded by urging all aspirants to focus on the polls rather than seeking delays: “Go out there and test your popularity; don’t drag the association down or tarnish people’s images. May the best man or woman win.”

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