Reactions have started pouring in concerning the suspension from office, of erstwhile governor of the Central Bank of Nigeria, (CBN) Godwin Emefiele, by the Federal Government and his subsequent arrest and detention by the Department of State Services (DSS) at the weekend.

The reason for Emefiele’s arrest, according to Willie Bassie, Director of Information, Office of the Secretary to the Government of the Federation, was to facilitate ongoing investigations of activities at the CBN and to pave way for planned reforms in the financial sector of the economy.

Allegations against the embattled CBN governor by the DSS reportedly include terrorism financing, mismanagement of Nigeria’s social investment programme and the Anchor Borrowers’ Scheme, sources say.

Emefiele was arrested in Lagos on Saturday by DSS operatives and flown to Abuja in a private jet.

A former president of the Nigerian Bar Association (NBA), Olisa Agbakoba, expressed shock about the detention of the Governor of the CBN by the DSS.

Mr Agakoba said Mr Emefiele’s suspension was understandable. He added that the confirmation by the DSS that the suspended CBN governor was in its custody “comes as a shock”.

Mr Agbakoba, a Senior Advocate of Nigeria, in a short press statement, wondered which role the DSS would play in the matter.

“The suspension of the Governor of the CBN from office is not a surprise, as his tenure was way beyond monetary policy. But confirmation by DSS that Governor Emefiele is in its custody comes as a shock.

“The statutory role of DSS is internal security, and I shudder to think what role DSS will play in this matter. The rule of law says it all – can the relevant agency responsible for Governor Ememfiele step forward, but this excludes the DSS, unless this has security implications,” the statement read.

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Laolu Akande, spokesperson to former Vice-President Yemi Osinbajo, has backed the suspension of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).

Reacting to the development, Akande, in a series of tweets, said persons of integrity would be “thankful” for the suspension of the CBN governor.

He said Emefiele failed to “redeem” himself despite being given a long rope, adding that his suspension brings relief.

“It was about time the CBN Governor faced suspension and investigation. All people of goodwill and those who value integrity, irrespective of political leanings would be thankful for this development,” Akande wrote.

“Emefiele was given a long rope but he failed to redeem himself.

“His shenanigans and the colossal damages he perpetrated at the CBN was to the utter detriment of the Nigerian people.”

Philip Agbese ,representative-elect, for Ado/Okpokwu/Ogbadibo Federal Constituency, described the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele as a corrupt economic rascal who had no business in governance.

Agbese, in a statement, Friday night, said by suspending Emefiele, the president has again displayed readiness for the job by taking drastic decisions for the good of the nation.

According to him, Emefiele’s dismissal and subsequent arrest are long overdue. He urged the President to go a step further to beam his searchlight on other corrupt officials in government.