Emefiele Took Billions Of Dollars From Nigeria’s Foreign Reserve Without Buhari’s Approval

Presidential spokesperson Ajuri Ngelale has made startling allegations against the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, accusing him of depleting the country’s foreign reserve without the consent of former President Muhammadu Buhari.

Speaking in an exclusive interview with TVC, Ngelale asserted that Emefiele made significant financial decisions without the approval of the former president, resulting in the expenditure of billions of dollars from the foreign reserve without proper authorization.

“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,” Ngelale disclosed during the interview.

The president’s spokesperson stated that the CBN governor held significant authority over most of the apex bank’s operations and simultaneously served as the chairman of the bank’s board of directors.

“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 said.

These allegations have sparked widespread reactions from Nigerians, with many viewing them as an attempt to absolve Buhari of any responsibility for the country’s economic challenges during his tenure.

One of the most scandalous events of Buhari’s presidency was the N30 trillion Ways and Means loan, which has been largely blamed for Nigeria’s rocketing inflation.

Financial analyst Kelvin Emmanuel criticized the lack of accountability and corporate governance under Buhari’s presidency, describing it as “an utter failure.”

He outlined various financial decisions made by Emefiele, including swapping bonds for reserves and borrowing money from external asset managers, which he claimed were executed without proper oversight or ratification from the National Assembly.

Posted: at 12-03-2024 10:45 AM (2 months ago) | Addicted Hero

Emefiele is NOT an Igbo man. He is from South South

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Posted: at 12-03-2024 11:42 AM (2 months ago) | Addicted Hero

Emefiele where’s the new naira ?..this man and his evil partners need to be jailed,,APC are evil party…,scheisse..

Posted: at 12-03-2024 01:42 PM (2 months ago) | Upcoming

Yeyeh story. We're tired of this tiring lies. Why not charge this lad with the purported crime. His only crime to-date  has been his alleged attempt to  kill Tinubu's presidential ambition, sick joke huh !

Posted: at 12-03-2024 04:12 PM (2 months ago) | Gistmaniac