How are the mighty fallen is a popular global maxim. This is the story of Godwin Emefiele, ex-governor of the Central Bank of Nigeria (CBN). This calm, humble looking man was typically blinded by the lucre of power, money and influence. The aphorism that power corrupts and absolute power corrupts absolutely was manifest in ways and manner he superintended over the CBN.
Every day, we are reminded of how transient money and power is. However, most deluded office holders in Nigeria do not seem to appreciate the limit of their official elasticity. They keep on acting as if tomorrow never exists and arrogantly act and behave like gods until such a time when there is no longer room for penitence.
The position of the CBN governor is highly exalted and influential. Therefore, governments at the federal and state levels, powerful officials and individuals have always lured and tampered with the sanctity of the bank to align with some dubious, personal or group economic policy decisions.
The chicken they say learns from where guinea fowl is being roasted. His predecessor Sanusi Lamido Sanusi was hounded out of office on account of his loquaciousness and for abandoning his core mandate to meddle into politics. Emefiele did not only meddle into politics by buying the presidential nomination form of the All Progressive Congress (APC); he procured a number of vehicles for campaigning pressing his closeness to ex-president Buhari and the cabal to his advantage. The enormous power and wealth at his disposal drove his character, attitude, ambition and that of his behind-the-scene supporters.
The hasty redesign of the naira notes which brought untold hardship to Nigerians was one policy which broke the camel’s back. He hid behind “President Buhari approved it” to undertake all sorts of programmes which mostly benefited his friends, family and cronies. Emefiele saw it coming but the sweet scent of power and the allure of authority beclouded his sense of judgement.
When one sheepishly presents oneself as a ready pawn to be used by politicians, the devastating backlash is always borne by him alone. Emefiele is personally gnashing his teeth alone at one corner of the detention room designated for the once upon a time powerful man by the Director of State Services (DSS).
Emefiele was one of the luckiest CBN governors. He was appointed by Goodluck Jonathan on June 4, 2014 after the suspension of Sanusi and then miraculously retained by Buhari. His tenure was also miraculously renewed even though, he was not adjudged to have performed well. He was the only governor of the apex bank in the history of the nation to serve two tenures and also two different and opposing administrations. History will also remember him as the only one who ventured into the murky waters of Nigerian politics without the decency of resigning his position.
Emefiele is presumed innocent until allegations against him are proven beyond reasonable doubt and a conviction secured against him by a court of competent jurisdiction. The DSS should as a matter of fact and urgency, charge him accordingly and not make a political meat of his detention. Relevant security agencies in an ideal situation must have gotten the full dossiers of ex and serving public officers whose hands are stained with ill-gotten wealth. They should be made to face the full wrath of the law. The fight against graft or official malfeasance should serve public and not political party or individual interests.
By: Sunday Onyemaechi Eze