Business

Group to commence  legal action to suspend Emefiele

Douglas Blessing

A group under the aegis of South-South Agenda for Tinubu/Shettima (SSAT), said it has concluded plans to seek judicial support for the suspension of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele to pave way for forensic probe on his activities and other management of the bank.

The APC/Tinubu support group disclosed that the legal action which will commence this week at a Federal High Court, will beamlight on activities of the CBN Governor since assumption of office.

The National Coordinator of the group, Mr. Bitrus Nta Oliver, said the legal action has become imperative after the endless wait for the cleansing of the apex Bank, to help rescue the dwindling economy and save President Muhammadu Buhari’s legacies .

Recalled that the group had few weeks ago called on President Buhari to suspend Emefiele from office over what they described as alleged ‘abuse of office’, use of public funds for personal investment, abuse of CBN intervention funds and projects. 

The group threatened to commence legal action if the president failed to act by suspending the CBN Governor to and pave the way for a forensic probe of the apex bank.

The group stated that after many weeks of waiting, “we are now left with no option but to take the patriotic step of launching a legal action to help save the economy from Emefiele’s mismanagement”. 

The group further revealed intent to secure an order for the NFIU, DSS, Financial Reporting Council of Nigeria (FRCN), and the CBN board to investigate the Bank, Emefiele, his top management staff and personal aides who are allegedly part of the problem the Nigerian economy is facing. 

“There is no way the alleged rots in mismanagement, financial recklessness and corruption that have happened under Emefiele can be exposed when Emefiele is still presiding, hence the need for the legal action and an injunctive order to restrain him from office while deep audit is carried out by the relevant security agencies to help unearth the sleaze that might have been perpetrated in the bank”. 

The group however, urged Nigerians who are in economic despair not to lose hope as their legal offensive will offer a way out of the alleged deep rooted mismanagement and looting of the apex bank.

Also, that the action will help President Buhari’s efforts and commitment to transparency and the fight against corruption.

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