[News] Emefiele pulled out billions of dollars from the foreign reserves without Buhari’s approval – Presidency

The Senior Special Adviser to President Tinubu on Media and Publicity, Ajuri Ngelale, says former President, Muhammad Buhari was not aware of the depletion of Nigeria’s foreign reserves under the watch of former Central Bank Governor, Godwin Emefiele.

 

In a recent interview with TVC, Ngelale said Buhari did not authorize the bulk of the expenditures from the foreign reserves, amounting to billions of dollars, under Emefiele.

 

“What was done concerning the expenditure of billions of dollars from the foreign reserves was done largely without the approval or knowledge of President Muhammad Buhari and President Bola Tinubu. Yes, that might seem hard for some people to believe, but I want to explain how that could have happened.

 

“We have one of the few Central Banks in the world where the day-to-day CEO was the governor of the Central Bank and was also the chairman of the board of directors. He was essentially overseeing himself” Ngelale said.