By Juliet Jacob Ochenje
The Socio-Economic Rights iand Accountability Project ( SERAP), has asked President Bola Ahmed Tinubu to immediately publish details of how $25 billion (N9.7trn) loans were expended by the Central Bank of Nigeria (CBN) under the leadership of its suspended governor, Godwin Emefiele.
The $25 billion covers overdraft and loans approved for the administration of immediate past president, Muhammadu Buhari.
SERAP made the demand in a statement on Friday night following the suspension of Emefiele from office by President Bola Ahmed Tinubu.
A notice of the suspension issued by the Office of the Secretary to the Government of the Federation said Emefiele was suspended to allow an investigation of his office and as part of reforms in the financial sector of the economy.
Emefiele had earlier this year implemented a controversial currency redesign policy that caused hardship on Nigerians due to cash scarcity. The Buhari administration had explained that the policy, which was actioned close to the general elections period, was aimed at curbing vote buying, insecurity and cash hoarding.
This move pitched him against politicians, especially the present President and his loyalists who accused him of deliberately stopping them from getting access to cash to fund their campaigns.
