Senate Dismisses ‘N500bn Theft’ Allegations Against Emefiele, Confirms His Re-appointment

The senate committee on banking, insurance and other financial institutions has issued a clean bill of health to Mr. Godwin Emefiele and confirmed his reappointment as Governor of the Central Bank of Nigeria, CBN.

This is coming on backdrop of the allegations of stolen N500 billion rocking the apex bank in which Emefiele and other officials were accused in an online report.

But confirming his reappointment, chairman of the Senate committee which presided over his nomination for a second term by President Muhammadu Buhari, Rafiu Ibrahim, said the allegations were targeted at “bringing you (Emefiele) down because  you are  a good person”.

Ibrahim, Kurfi Umaru and Philip Aduda who spoke in turns described the allegations of N500 billion theft in the CBN as false and mischievous saying it was orchestrated to bring down a good person.

“You, Emefiele are a good person. We will not let them bring you down. Now, we know the reason why there are some videos on social media because in Nigeria, once you are a good person, some people will always try to bring you down. We will expeditiously take a report to the chamber for consideration. You can take a bow,” Ibrahim said.

Kurfi Umaru representing Katsina central also commended the CBN governor for “a job well done.”

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“Let me start by congratulating the governor for his second term and also congratulate you for your article presentation. I commend you for a job well done,” he said.

Philip Aduda from FCT said: “Mine is to wish you well and to pray to God almighty to grant you wisdom so that you can put the economy of this county on a pedestal of hope and prosperity. Congratulations.”

Emefiele had in his presentation revealed that the pathetic situation of the Nigerian economy makes him cry each time he travelled abroad and saw developments overseas.

“Distinguished Chairman of the Committee and members, I must tell you that each time I travel abroad and see developments there and remember my own country, I weep.

“Some of the Asian tigers that we started together have developed past Nigeria.”

He however, vowed to implement the CBN’s policies to the latter in his second tenure, stating that the apex bank would sanction those who breach the laws irrespective of their status in the society.

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Emefiele said Nigeria has workable policies but “implementation has been neglected because we see sabotaged activities.”

“CBN will ensure that those who seek to undermine the policies of Nigeria will be brought to book. Pray for us because the road ahead is tough.

“We have started looking at Palm oil. The price of a barrel of palm oil is more than a barrel of crude oil. We will grow that market again. After palm oil, we will focus on cocoa in the south-west,” he said.