Emefiele didn’t act on his own, don’t make him scapegoat, Bakare tells Tinubu

Though the popular cleric said Emefiele may have made some wrong calls in the management of Nigeria’s monetary policy, he insisted that there is every possibility that the suspended CBN governor did not act without presidential authorisation.

Bakare made this known during the State of the Nation address on Sunday, August 13, 2023, where he bore his mind on recent developments in the country.

Emefiele was criticised over his handling of the apex bank affairs, and he came in for strong flacks in the days leading to the 2023 presidential election over his insistence on implementing the naira swap policy despite the hardship faced by the people.

But, while Bakare agreed that he should be prosecuted if found guilty of any wrongdoing, he noted that the pre-2023 election events give an inkling that there is a political vendetta against Emefiele by President Bola Tinubu.

“Mr Godwin Emefiele may have made the wrong judgement calls in the management of Nigeria’s monetary policy, but he must not be made a scapegoat.

“In the provisions of the Central Bank of Nigeria, CBN Act 2007, there is every possibility that the erstwhile central bank governor did not act without presidential authorization.

“If Emefiele is found liable for any crime, by all means, he should be prosecuted. However, considering the dynamics of the pre-election environment and the then-candidate Bola Tinubu’s public allegation that the naira redesign policy was targeted at him, the optics of the president targeting Emefiele for prosecution after winning the election and being sworn in as the president could be interpreted as a form of vendetta far beneath such a distinguished office,” Bakare said.

Emefiele has been in the custody of the Department of State Services (DSS) following his arrest on June 10, 2023, a day after he was suspended from office by the President.

The Federal Government has since filed a two-count charge of illegal possession of firearms and ammunition against the embattled CBN governor, and the DSS has continued to keep him in custody despite several court rulings to the contrary.

Meanwhile, Bakare also condemned the DSS over their role in Emefiele’s detention, saying their actions have raised concerns over professionalism and adherence to the rule of law.

“Considering the claims of the DSS that its actions were in reaction to order from above, handling of Emefiele case has sent a signal to the world that the current president’s disposition to the war against corruption is primarily motivated by the clampdown on the perceived political adversaries, while various other enemies of Nigeria remain untouched,” he added.