British Parliamentarian Reacts To DSS Plot To Arrest Emefiele

A member of the British House of Lords in the UK Parliament has reacted to the plots by the DSS to arrest Emefiele.

 

Newsonline reports that a member of the British House of Lords in the United Kingdom Parliament, Lord Daniel Hannan, has reacted to plots to arrest and prosecute the Governor of the CBN, Godwin Emefiele, by the Department of State Services (DSS) over alleged money laundering.

Also: Emefiele Ignores Reps Order, Says No Going Back On Cash Withdrawal Limit Policy

 

The UK parliamentarian called on Nigerian political elites to respect the independence of its institutions, including the Central Bank of Nigeria (CBN) ahead of the 2023 general election.

Lord Hannan, a member of the Board of Trade and Conservative Peer and Baron of Kingsclere, advised democrats and political elites to join the Federal Government of Nigeria in supporting these institutions.

The lawmaker stated this on Wednesday while answering questions in the UK Parliament.

Hannan’s comment is coming amidst reported plots to arrest and prosecute the Governor of the CBN, Godwin Emefiele, by the Department of State Services (DSS) over alleged money laundering.

 

Speaking in the UK Parliament, Hannan said the rule of law, due process and the independence of public officials must be protected by all.

The lawmaker slammed moves by the political elites in Nigeria to witch-hunt Emefiele over the redesigning of the naira and the accompanying policy of cash withdraw limitations.

Hannan said, “I am not (a) Nigerian. It is not for me to say whether it was time for a redesign of naira notes or whether such a change will make elections cleaner. But I do feel that friends of Nigeria, and friends of Nigerian democracy, should defend the rule of law there.

“At a time when democracy is in retreat globally, we all have a stake in Nigeria’s success. The country is Africa’s greatest economy, Africa’s greatest population and Africa’s greatest hope.

“That is why I have raised the issue of the attempt to detain Emefiele, in the Parliament. And that is why I hope that democrats on all sides will join Nigeria in supporting the independence of its institutions in the run-up to the 2023 elections – including, of course, the Central Bank.”

 

Similarly, the Centre for Financial Surveillance and Illicit Transaction Tracking Group (CFSITT) expressed concerns over the move against Emefiele. The member of Egmont Group, a 164 countries membership forum, said the likely suspension of Nigeria was one of the consequences of the terrorism allegation against the CBN governor by DSS.

In a statement by its Director, John Dimu, CFSITT said Nigeria would have been suspended if DSS had succeeded in framing Emefiele for terrorism.

CFSITT provides financial units with a platform to securely exchange expertise and financial intelligence to combat money laundering and terrorist financing, among others,

 

However, bowing to pressure from its cash withdrawal policy since it was announced, the central bank announced an upward review of its cash withdrawal limits across all payment channels by individuals and corporate organisations.

The House of Representatives resolved yesterday to admit a Deputy Governor of the CBN in charge of Financial System Stability, Mrs. Aisha Ahmad, in place of Emefiele, to brief the lawmakers on the recent monetary policies of the apex bank, especially the cash withdrawal limits.

Nevertheless, former Senate President, Dr. Bukola Saraki, also yesterday, advised security agencies in the country to be wary and avoid being manipulated by politicians as the 2023 elections draw nearer.