DSS Transfers Emefiele to EFCC for Fresh Scrutiny

“He is with the EFCC which has the mandate to investigate economic and financial crimes. The DSS does not have that mandate. That was why he was handed over to the EFCC. So, he’s here, undergoing interrogation,” the source said.
It was further gathered that the anti-graft agency may file fresh charges against Emefiele in a Lagos court “very soon.”
The DSS arrested Emefiele on June 9 and later announced that the former CBN governor was in its custody for “some investigative reasons.”
On July 25, he was arraigned on a two-count charge bordering on “illegal possession” of firearms at a federal high court in Lagos and was granted bail in the sum of N20 million.

The two-count charge was later struck out on August 17 after the federal government withdrew the same.
However, a fresh 20-count charge was instituted against him over an alleged conspiracy to carry out procurement fraud, among others.
The arraignment has been stalled twice, and Emefiele was reported to have proposed a plea bargain with the government.
The proposed agreement required Emefiele to resign as CBN governor and return some assets.
On September 22, the CBN officially confirmed Emefiele’s resignation after Olayemi Cardoso was appointed as substantive governor of the apex bank.