Falana says EFCC should investigate; DSS will bungle it
By Jeph Ajobaju, Chief Copy Editor
Most opinion leaders and ordinary folks agree with the suspension and arrest of former Central Bank Governor (CBN) Godwin Emefiele, citing his brazen dabbling in politics and his chaotic implementation of the naira design policy that piled more hardship on citizens in the first quarter of the year.
What many disagree with, however, is Emefiele being investigated by the Department of State Security (DSS) which accuses him of terrorism financing, an alleged offence which should be classified as economic sabotage.
Human rights lawyer Femi Falana, SAN said the DSS lacks the constitutional power to investigate and prosecute Emefiele.
And former Nigeria Bar Association (NBA) President Olisa Agbakoba, SAN argued Emefiele’s suspension from office is not a surprise as his tenure witnessed way beyond monetary policy.
“The statutory role of DSS is internal security and I shudder to think what role DSS will play in this matter?
“The rule of law says it all. Can the relevant agency responsible for Governor Emefiele step forward but this excludes the DSS, unless this has security implications” Agbakoba asked.
Falana insisted the DSS should transfer Emefiele to the custody of the Economic and Financial Crimes Commission (EFCC) which has the legal right to prosecute him.
“A few months ago, the State Security Service [SSS] levelled grave allegations of terrorism financing, money laundering, and other economic crimes against Godwin Emefiele, the Governor of the Central Bank of Nigeria,” Falana recounted in a statement.
“At the material time, the attempt by the SSS to arrest, investigate, and prosecute Mr Emefiele was frustrated by the erstwhile [Muhammadu] Buhari administration.
“However, following the suspension of Mr Emefiele as the Governor of the CBN by President Bola Tinubu, the SSS quizzed him in Lagos and flew him to Abuja yesterday [Saturday].”
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Falana warns SSS will bungle investigation
“According to media reports, the investigation of the suspect by the SSS has commenced. Even though the SSS initially denied the arrest, it has since turned round to admit that Mr Emefiele is in its custody,” Falana added, per The PUNCH.
“In the case of Dr Bukola Saraki v. Federal Republic of Nigeria (2018) 16 NWLR (pt. 1646) 433-434, the Supreme Court ruled that the Economic and Financial Crimes Commission lacks the vires to investigate and prosecute the appellant for the breach of the provisions of the Code of Conduct Bureau and Tribunal Act.
“It was for that principal reason that Senator Saraki was freed by the apex court.
“In line with the principle of law enunciated by the apex court in Saraki’s case, the SSS lacks the power to investigate and prosecute Mr Emefiele in respect of allegations of money laundering and other economic crimes.
“Therefore, after investigating the alleged involvement of Emefiele in terrorism financing the SSS should transfer him to the EFCC for the purpose of investigating the allegations of money laundering and allied offences.
“Otherwise, the investigation of the case will be bungled by the SSS.”