Alleged terrorism financing: Experts raise flag over DSS, Emefiele rumoured fight

Economic experts have warned the Department of State Services, DSS, and politicians against throwing Nigeria’s economy into further woes over alleged terrorism charges against the Central Bank of Nigeria Governor, Godwin Emefiele.

On Monday, Nigerians woke up to hear a Coalition of National Interest Defenders, in the full glare of the media, claim that the DSS is orchestrating plans to arrest and remove the CBN Governor.

The coalition made the allegation during a press conference in Abuja by its Coordinator, Tochukwu Ohazurike.

The group alleged that the DSS filed a suit at the Federal High Court Abuja accusing Emefiele of Terrorism financing.

In reaction to the allegations making the rounds in the media, the country’s secret service said it remained focused on its mandate.

“While professionally discharging its mandate, the DSS pledges to remain focused and unbiased. It will not, by any means, succumb to propaganda, intimidation and the desperation of hirelings to undermine it. It will also not give room to the use of falsehood and deceit to misdirect public understanding and perceptions of issues of national importance”, a statement to DAILY POST by DSS’s spokesman, Dr Peter Afunanya, said.

Meanwhile, a crowd of protesters with placards stormed the streets of Abuja demanding the sack of the DSS Director General, Mr Yusuf Bichi.

DSS acting script over Emefiele’s removal – Idakolo

Reacting to the development in a chat on Monday, a financial inclusion/wealth management expert, Mr Idakolo Gbolade said if the allegation is true, the DSS’s move is politically motivated.

He explained that the secret service is acting on a script to witch-hunt Emefiele over his perceived anti-establishment monetary policies in recent times.

“If the alleged arrest plot is confirmed, then it can be assumed to be politically motivated. I want to believe it is not valid.

“However, from the body language of the National Assembly and Political parties, it seems they are against the withdrawal limit. In the past few months, The CBN’s policies regarding Naira redesign, withdrawal limits, etc., have been seen targeting political moneybags that have stored up enough cash for the upcoming elections, which will significantly disrupt their plans. From an economic point of view, these policies are necessary for the economy and to safeguard our elections’ sanctity.

“If the claim by the group is confirmed, then the DSS will be acting on a script because most of the funds seized by the DSS might be affected by the CBN policy”, he stated.

Emefiele might have Magu’s treatment if Buhari remains Lukewarm – Prof Oyedokun

Also, an Accounting and Financial Development don at Lead City University, Ibadan, Prof Godwin Oyedokun, said it is challenging to fight fraud without fraud fighting back.

He feared that what happened to the former Chairman of the Economic and Financial Crime Commission, EFCC, Mr Ibrahim Magu, and others might be the case for Emefiele if President Muhammadu Buhari remains lukewarm on the matter.

Oyedokun lamented that Nigerians are no longer concerned about the daily flaws of Buhari’s government in the last seven years.

“In Nigeria, it will be challenging to fight fraud without it fighting back. I am not exonerating the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele if he is guilty; However, the policy carried out by him has the approval of the President and by extension the Nigerian people.

“We need to be extremely careful in this country, especially how politics is played. The President should not be lukewarm on this matter; the same happened to the former Economic and Financial Crimes Commission Chairman, Ibrahim Magu, and the Accountant General of the Federation, Mr Idris Ahmed.

“Nigerians are no longer concerned about the government’s daily flaws; their actions would reflect in the forthcoming election,” he added.

Shameful to see infighting among Buhari’s men – Adebayo

On his part, the presidential candidate of the Social Democratic Party, Prince Adewole Adebayo frowned at the continuous infighting by Buhari’s team.

“The most dangerous and ridiculous saga I have seen is how CBN Governor, Godwin Emefiele is now part of the present political shenanigans instead of paying keen attention to monetary policies. Ongoing theatrical press conference by the Coalition smacks of infighting by the derailed team of the President.

“I have said it not with joy but most regretfully that President Muhammadu Buhari watches his presidency become a stage for paediatric hirelings and mischievous crowd renters who have no merit to be in public office. Now factions of overfed incompetents are dancing naked in the face of hungry Nigerians.

“Nigerians can now see in the open what we have always said that Nigerians are poor and insecure, not because our problems of hunger and insecurity are hard to solve but because there is no proper government focusing on the official agenda. Buhari runs a jungle of rival gangs after their own money”, he posted in his official Twitter handle on Monday.

When Newsmen contacted CBN’s Director of Corporate Communications, Nwanisobi Osita to speak on the matter, he said the news came to him the way every Nigerian heard it in the media.

He said, “I heard it the way you heard it, and I am not saying the news is not true”.

He declined to comment further on the matter.

At the moment, one hundred and thirty-three million Nigerians are struggling with multidimensional poverty, battling 21.47 percent of inflation, declining Gross Domestic Product growth rate and insecurity.

Analysts believe that the current development could worsen the scenario.