Presidency Accuses Emefiele Of Taking Billions From Foreign Reserve Without Buhari’s Approval

Adoga Stephen By Adoga Stephen - Editor-In-Chief
2 Min Read

President Bola Tinubu’s spokesperson, Ajuri Ngelale, has accused the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of reducing the country’s foreign reserves.

During an interview with TVC, Ngelale claimed that Emefiele made significant financial decisions without the approval of former President Muhammadu Buhari.

He pointed out that expenses from the foreign reserves, amounting to billions of dollars, were not authorized by the former president.

The president’s spokesperson mentioned that the CBN governor was responsible for most of the central bank’s operations and also served as the chairman of the bank’s board of directors.

“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,” Ngelale said.

“Yes, that might seem hard for some people to believe, but I want to explain how that could have happened. 

“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,” he added.

Emefiele is currently facing prosecution for allegedly committing procurement fraud and forging the signature of former president Buhari.

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By Adoga Stephen Editor-In-Chief
Stephen studied Mass Communication at the Lagos State Polytechnic, Ikorodu (now Lagos State University of Science and Technology), where he acquired requisite training for the practice of journalism. He loves the media, and his interest mostly lies in print medium, where his creative writing skill makes him a perfect fit.