Emefiele's Fall from Grace: From CBN Governor to Financial Crimes Suspect
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Emefiele implemented controversial policies as CBN governor like foreign exchange restrictions, high government borrowing, and supporting crypto ban that critics say worsened inflation and poverty.
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He violated CBN independence rules by being overtly partisan, vying for president while still governor in 2022 against next president Tinubu.
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His poor handling of 2022 naira redesign policy sparked cash shortages and was seen as trying to hurt Tinubu’s election bid.
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He disobeyed Supreme Court orders allowing old notes as legal tender and was accused of mismanaging agricultural schemes.
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He fell from grace this year, accused of financial crimes and detained by security agencies after falling out with new Tinubu administration.