Professor Moghalu is a former Deputy Governor of the CBN (2009-2014)

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.

3. The foregoing notwithstanding, my views on Emefiele’s PERFORMANCE as CBN Governor have been a matter of record even when many now opining on the matter of his performance on the job were mute. He is without debate the WORST and MOST damaging Central Bank Governor in Nigeria’s history- incompetent and ill-prepared for the role, and from all available information from his actions, doubtlessly severely integrity-challenged. Four things make this clear:

a) his performance regarding the STABILITY of the Naira exchange rate, as well as inflation;

b) the brazen illegal provisions of Ways & Means lending to @NigeriaGov ;

c) Emefiele’s illegal attempt to run for President, in clear contravention of Section 9 of the CBN Act of 2007 which precludes the Governor and Deputy Governors from engaging in activities outside their functions; and

d) the incompetent manner in which the Naira Redesign Policy was handled, and its consequent negative, indeed disastrous impact on Nigeria’s economy.

4. While the law should certainly take its course, it is worth noting that an exclusive focus on the CBN as a “fight against corruption” may come to seem more as vendetta than anything else IF other sensitive entities such as the NNPC, Nigeria’s national oil company, are not subjected to a similarly vigorous searchlight. Corruption has robbed Nigeria of its destiny and impoverished our citizens while enriching at insane levels a select few. Combating it has to be a holistic affair, not just politically convenient media trials.

4. Emefiele’s fame & infamy today certainly calls into question the self-serving attitude of our elected political leaders to sensitive appointments like that of CBN Governor as opposed to a focus on the national interest. Who appointed Emefiele as CBN Governor in 2014 and why? Who re-appointed him in 2019 (despite his obvious -even then - weak performance) and backed his malfeasance cloaked as “policy”? We like theatre in Nigeria, but the thing about entertainment is that it tends to be chimeric, vanishing from view (and even memory sometimes) a little while after we are “in the moment”. Nigeria’s political leadership culture and governance need a complete overhaul. The current approach to the matter to Emefiele, who undoubtedly deserves his trial, is not quite the optimal path when placed under close scrutiny.

Our political leaders who appoint incompetents and crooks to sensitive positions in the government for their own selfish aims, and back the supposedly “official” acts of those officials, have as much responsibility as the officials for the economic sabotage of Nigeria’s economy.

In countries with real cultures of accountability, Presidents @GEJonathan and @MBuhari would have explanations to give for the collapse of Nigeria’s central bank under Emefiele and the subsequent trauma to Nigeria’s economy.

Kingsley Chiedu Moghalu OON

Buying banks with fake alerts .Sentence Emefiele to 50 years imprisonment already

Let me start this morning by borrowing a line from the Legend himself,the Abami Eda,Fela Anikulapo Kuti
The Song goes like this:
You be thief,I no be thief
You be armed robber,I no be armed robber
You dey steal,I no dey steal

Maximum respect to the great seer,Abami Eda
Chai!!!!!,Meffy and his gang of 40 thieves did a real number on Nigerians, please let us leave Abacha alone,this present crop of Politicians and their hangers on have made Abacha look like a saint
Haba!!!,I seriously feel Emiefiele couldn't have done this monumentous thiefry alone,I don't want to mention names but the former AG, Buhari nephew and a certain Uncle of Buhari have serious questions to answer

I have always said that Emiefiele is just a scape goat, Asiwaju is using him to send a serious message to the Buhari Camp, which is that they should stay clear of his Government
The kind of money this guys stole is enough to distablize any Government,it is better to launch a first attack on this guys so that they will never regroup to foist any problem for his Government
I believe Asiwaju will allow them return their loot,and give them a safe landing
I guarantee that this guys will never have a voice as long as Asiwaju is in government

Kindly check my signature for good properties around the Ibeju Lekki Industrial Hub

In my Opinion,I think under this Tinubu regime,no one should be persecuted for corruption, because the head of the office is the chief himself.

APC and bad records

Emefiele really dealt with Nigerians. I have no pity for him.

It would have made a lot of sense if Nigerians are allowed to give him one slap each for 30 days.

That's crowd slapping in the morning, in the afternoon and in the evening. Just like 3 square meals.

Hypocrisy na him kill this country

We know already...
And Senate that was a check nd balance na worse...

Was Emefele working independently? The guy was simply following instructions

It is time we put in place adequate measures to ensure individuals in offices are not over empowered to do as they so feel.

I go with Mogalu on this

Making Buhari the WORST president in Nigeria's history.

But I know Ebola Tinubu will break Bubu's calamitous records,
Just like Wale Cardozo will break Emefiele's own.

Everyone including me , you, OBJ, GEJ, MB and BAT will account for their deeds on judgement day!

Even if the world's trial is selective...

He is the worst

Lol meffy

Meffy your soul is required in hades 🌹.

Shots fired

Emefiele and Buhari deserves to be in jail

Buhari and his cabals used him to defraud the country and he used that opportunity to take his own share of the loot. There's no way both of them shouldn't been serving jail terms in a sane country. Forqet patriotism, Nigeria is totally finished. A complete zoo

send the ECONOMY SABOTEUR,THIEF to NORTH KOREA with whitish stuff

Every individual in Buharis government is the worst in all aspects of his regime. In order word Buhari's regime is the worst in history.

Hehehe.

Emefiele is indeed a disaster,but his boss should be arrested too. Those two really need to be behind bars.

DrDoc:
Sentence Emefiele to 50 years imprisonment already

Bros, this is history repeating itself. Corruption of this magnitude comes with collaborators. Probably, over 40% of the APC members, past and present colluded in this malfeasance. Maybe, your President and his allies are also part of it. They will try to shield their friends, while they lay all the allegations on only perceived enemies. This is why Emefiele would be exonerated from any culpability after years of kangaroo trials. For Buhari, it was Sambo Dasuki. For Tinubu it is Godwin Emefiele. The circle continues.

President Tinubu does not have the MORALITY AND INTEGRITY to fight and prosecute corruption in Nigeria.

Emefiele and BUHARI is the worst thing to have happened to Nigeria


TULUMBU will be a plague

Emefiele was just naive. Pitching tent with opposition with the hope that his policy would rubbish Tinubu and tilt emotions towards his tribal man was the greatest mistake he will live to regret throughout his life.

They're selling cheap publicity to their cronies. The government in power never changed so how exactly can they pin this one on anyone else but themselves? This corruption in made in APC through and through.

Jambula:
In my Opinion,I think under this Tinubu regime,no one should be persecuted for corruption, because the head of the office is the chief himself.

Are you related to Emefiole? ONKR