Group raises alarm over alleged activities of CBN, collaborates revelation by DSS 

The Concerned Northern Forum (CNF), a coalition of over 73 Civil Society Organizations in Northern Nigeria, who are engrossed in the aim of advocating, promoting and defending the interest and values of the people of the north,

has raised alarm over the dubious activities of the Central Bank of Nigeria (CBN).


Collaborating the revelations by Hon. Mohammed Gudaji Kazaure and the Department of State Security (DSS) against the CBN Governor, Mr. Emefiele Godwin, the group said such allegations are grievous and must be logically investigated and prosecuted with all sense of seriousness.



Addressing a press conference in Abuja on Thursday, spokesman of CNF Comrade Abdulsalm Mohammed Kazeem had this to say; “recall that, earlier in November our organization came out to say there were motives behind the redesigning of some denominations of the Nigerian currency, which informed our stand against the policy. Barely a month now, many revelations are beginning to spring up to vindicate us and our earlier claims that the currency redesigning is neither in the interest of Nigeria nor Nigerians but to satisfy the selfish schemes of a few unpatriotic Nigerians”.


Alleging financial misappropriation and underhand dealings, CNF queried the rationale behind spending so much money to redesign and print new currency notes with no justifiable reason.


Arguing further that except the CBN is desperate to print money for use in sponsoring nefarious activities as they have always been suspected of, there wouldn’t have been any reason to create this diversionary tactic to have an excuse such outrageous sums when the country is financially crippled literally.



Part of the statement read, “at a time when the country is having financial crisis including spiralling inflation and unemployment, is it not curious that the CBN is accused of spending 58.6 billion naira to print 2.5 billion naira notes? Something is not right and the earlier Emefiele and his co-conspirators are made to face the law and answer to these allegations the better. The cost of printing money can’t be more than the value of the money by almost 500%. Something is not right and must be unraveled. The whole idea of redesigning and reprinting is a hoax to hoard and launder money without alerting Nigerians.


The group lauded the Directorate of State Security (DSS) services for being in the forefront of safeguard national security through topnotch intelligence gathering. The group commended the Secret Police for employing thousands of Nigerians and the constant training and retraining that have made the Service a force to reckon with in intelligence gathering globally.



“It is important we bring to the notice of naysayers criticising the DSS that, apart from being the number one secret police in Africa, the DSS has been in the forefront of the war against terror and other forms of criminality in the country with astonishing results. The service has not just employed more officers but has also ensured that there are training and retraining opportunities to equip them with modern intelligence gathering techniques and know-how. This has drastically curbed the myriad security challenges we are faced with as a nation. We all can bear witness to the reduced spate of kidnappings and terrorist activities in today’s Nigeria”, the statement added.


The group therefore urged the DSS to ignore and immediately appealed the federal high court injunction and go ahead with their planned arrest of Mr Emefiele in the interest of National security. Insisting that those who asking for evidence including the courts should know that security is a discreet affairs and revealing sensitive information will harm the investigation.



According to Comrade Abdulsalam Mohammed Kazeem, “as patriots who wish to always stand on the path of righteousness, we won’t takes sides with those are attacking the DSS but rather ask that the Service should be allowed to carry out its duties without interference.


Those asking the DG to give details of Emefiele’s underhand dealings should know that security is a tactical issues and evidence can’t be made public so that criminals won’t be alerted and made to destroy evidence”.


On allegations of financial crimes, sponsorship of terrorism and the diversion of funds including the stamp duty Nigerians have been paying for years under President Buhari’s regime, CNF insisted on the sack of Mr. Godwin Emefiele especially because of the damning allegations by Hon. Kazaure and several unprofessional acts attributed to the CBN Governor in the last few years.


“Mr. Godwin Emefiele should, as a matter of urgency be relieved of his duties as the Governor of the apex bank (CBN), as his character and integrity is already questioned. He should be investigated accordingly and with immediate effect. His involvement into partisan politics and the spurious investments he has made even in some Nigerian banks makes him unfit to continue as CBN Governor as this contravenes the CBN Act and other extant laws. He should be made to face the charges leveled against him in a competent court of law.


“The allegations by Hon. Mohammed Gudaji Kazaure concerning the misappropriation and diversion of stamp duty funds as well as other financial crimes require in depth investigation. Financial crimes including diversion of public funds as alleged run afoul of President Buhari’s anti-corruption posture and must not be tolerated by his appointee no matter how highly placed. Emefiele can’t be sitting as a CBN Governor while these investigation continue. He needs to step aside to prevent any form of interference and undue influence”, the statement added.



CNF while urging the DSS to be resolute in the task of maintaining national security regardless of sponsored attacks and manipulations by unscrupulous Nigerians, the group insisted that Emefiele should turn himself in and be interrogated if he truly has nothing to fear instead of running from pillar to post hoping to save himself.


“It is our position that the CBN Governor should turn himself in to the DSS for questioning, possible arrest and detention. Failure to do so should be met by a forceful arrest and detention in one of Nigeria’s maximum security prison facility. He should forthwith, stop sponsoring faceless goons against the person of the DG of DSS and the Service in general. The endless media wars and attacks can only elongate his doomsday but will definitely not save from standing trial and answering to the weighty allegations against him”, the statement concluded.

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