Emefiele Took Billions From Nigeria’s Foreign Reserve Without Buhari’s Approval – Presidency

The Presidency has claimed former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, took billions from foreign reserves without the approval of ex-President Muhammadu Buhari.

This was made public by President Bola Tinubu’s spokesperson, Ajuri Ngelale.

He said Emefiele succeeded in depleting Nigeria’s foreign reserve because he was the then CBN governor and the chairman of the apex bank’s board of trustees.

In an interview with TVC, Ngelale said Emefiele was unchecked because he was in charge of most of CBN’s operations.

He said: “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.

“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.”