Rift Emerges Between Former CBN Governor Emefiele and Dangote
The recent turmoil surrounding Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), has brought to light a rift between him and Aliko Dangote, Africa’s richest billionaire. Emefiele is currently facing trial for alleged fraud and official misconduct during his tenure as CBN governor.
The tension between Emefiele and Dangote reportedly stems from Emefiele’s attempts to seek assistance from Dangote, which were allegedly rebuffed. Sources close to both parties suggest that Emefiele, frustrated by the perceived betrayal, has been cooperating with the Economic and Financial Crimes Commission (EFCC), implicating associates and acquaintances in the process.
The EFCC’s recent raid on Dangote’s office in Lagos, reportedly to investigate forex allocations during Emefiele’s tenure at the CBN, has fueled speculation of a feud between the two. It is suggested that Emefiele may be seeking retribution for what he sees as betrayal by Dangote.
Emefiele’s suspension from office by President Bola Ahmed Tinubu in June 2023, amid ongoing investigations and planned reforms in the financial sector, further added to the controversy. Shocking revelations emerged regarding Emefiele’s alleged involvement in a $1 billion borrowing scandal, where a significant portion of the funds was swiftly transferred to Dangote’s accounts in Dubai.
The manner and scale of the transactions have raised concerns about potential misconduct and abuse of power. Emefiele’s suspension and subsequent trial have brought to light questions about integrity and transparency within the CBN during his tenure.
The once amicable relationship between Emefiele and Dangote, characterized by gestures of generosity such as the use of Dangote’s private jet by Emefiele, has now soured. Both men appear to have drifted apart, with Emefiele seeking a plea bargain in the criminal suit against him while Dangote faces scrutiny from the EFCC.
Source: Politics Nigeria
