Ajuri Ngelale, spokesperson for President Bola Tinubu, has shed light on how Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), purportedly withdrew billions from the country’s foreign reserves without the approval of ex-President Bola Tinubu.
Ngelale attributed Emefiele’s ability to deplete the reserves to his dual roles as CBN governor and chairman of the apex bank’s board of trustees. In an interview with TVC, Ngelale stated that Emefiele operated unchecked due to his significant control over CBN’s operations.
He further emphasized that the expenditure of billions from the foreign reserves occurred largely without the knowledge or consent of President Muhammad Buhari and President Bola Tinubu. Ngelale highlighted the unique structure of Nigeria’s Central Bank, where the governor held both executive and oversight functions, essentially overseeing himself.
