Emefiele’s Fraud Case Mere Media Trial – Moghalu

By - LagosCityReporters 24 December 2023 Comments (0) 2 Mins Read

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A former Deputy Governor of the Central Bank of Nigeria (CBN) Kingsley Moghalu has described media reports tying former CBN Governor, Godwin Emefiele to series of fraud as mere media trial.

Recall that CBN investigator accused the embattled ex-apex bank boss of engaging in a series of fraudulent activities, including going ahead with the naira re-design policy without first getting an approval from president Buhari.

Emefiele was also accused to have fraudulently withdrawn $6.23 million from CBN vault under a purported approval of the president to pay foreign election observers.

However dismissing the reports that have been making round the media, Moghalu wrote, “I have seen in the mainstream media and floating around on social media including Whatsapp, a report purported to be that of the CBN Special Investigator appointed by President Tinubu. I have some comments on this development.

“1. The “report” has no signature appended, so we can’t assume it is the real and official report. 2. Assuming it is in fact the real report, it’s wrong for such a sensitive report to have “leaked” to the public before the President and his government have reviewed and spoken to it.

“This is because the “report” talks of “chargeable offenses” and mentions specific individuals it recommends to be prosecuted in addition to Emefiele. This is a media trial and prejudices the rights of these individuals named or referred to.

“This is NOT how a report into the Central Bank of Nigeria should be handled. The central bank of any country is a very sensitive institution and confidence (or the lack of it) in the institution has practical consequences on the ground for Nigeria’s economy. As much as the Bank and its leaders ought to be accountable for their official actions, we must consider the continuing damage this kind of sensationalism (which, knowing our country, nothing much is likely to come of it at the end of the day) does to Nigeria’s economy, image, and the institution of the CBN itself. When it comes to law, allegations are simply allegations unless and until proven in a court of law.”