Godwin Emefiele, the jailed and suspended governor of the Central Bank of Nigeria, has been given one week to appear in court or be released, according to a high court of the Federal Capital Territory.
The injunction was given by Justice Hamza Muazu when he rendered a decision in a fundamental human rights case that Emefiele had brought against the DSS and others.
According to Justice Muazu, the DSS has the authority to carry out its constitutional responsibilities, including making arrests, holding people, and ensuring that internal crime is prevented.
But he insisted that these obligations had to be fulfilled in accordance with the law.
Emefiele was immediately removed from office on Friday, June 9 by President Bola Tinubu.
According to a statement by Willie Bassey, Director of Information, Office of the Secretary to the Government of the Federation, this followed the continuing inquiry into his office and the proposed changes in the financial sector of the economy.
According to the statement, Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the CBN governor pending the conclusion of the investigation and the reforms.
The CBN listed the Deputy Director, Operations Directorate, as Mr Folashodun Adebisi Shonubi.
Shortly after Emefiele’s arrest, the DSS swooped in on him and took him into their custody.
Emefiele, who was appointed the apex bank’s governor on June 4, 2014, was also at the centre of a storm in January 2023 when security operatives attempted to arrest him over allegations of terrorism financing and economic crime.
Also, the introduction of the naira redesign policy by the Emefiele-led CBN in October 2022 started on a controversial note as the then Minister Finance, Budget and National Planning, Zainab Ahmed, kicked against it barely 48 hours after it was announced.
Ahmed had stated that her ministry was not consulted and she was not aware of the monetary policy.
The reaction generated tension and uncertainty until the Presidency confirmed that Buhari approved the policy, which it said was to manage inflation, combat currency counterfeiting and ransom payment.
Early January 2023, the CBN started a cash swap programme in various local government areas to reach citizens in rural communities, who complained of the unavailability of banks in their localities.
The country experienced economic hardship as a result of both the old and new naira notes going out of circulation, thus the apex bank changed the original deadline for the old notes to stop being legal tender from January 31, 2023 to February 10, 2023.
Fuel shortages across Nigeria made the issue worse as Nigerians criticised the government’s initiatives as being poorly thought out.
The All Progressives Congress candidate for president at the time, Tinubu, also criticised those responsible for the redesign of the naira, which he claimed was aimed against his campaign.