CBN Governor, Godwin Emefiele

Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has formally demanded N1 billion in damages from Senate President Godswill Akpabio over allegations of defamation. Emefiele’s legal representative, Matthew Burkaa, issued a notice to the Senate President dated February 19, 2024, contesting a statement attributed to Akpabio on February 18, 2024, which declared, “we don’t know what to charge Emefiele with.”

Emefiele’s lawyer deemed Akpabio’s remark as “false, distorted and clearly aimed at disparaging his character and indeed made in bad faith.” The statement was made by the Senate President during a thanksgiving service held by Senator Barinada Mpigi in Koroma, Tai Local Government Area of Rivers State, where Akpabio criticized Emefiele for allegedly leaving the Nigerian economy in disarray and the Federal Government’s purported uncertainty regarding charges against the former apex bank chief amidst an ongoing probe by the Economic and Financial Crimes Commission (EFCC).

Burkaa clarified in his letter to Akpabio that contrary to the Senate President’s assertion, the Federal Government had initiated charges against Emefiele since August 14, 2023, to which Emefiele had pleaded not guilty. The letter addressed to Akpabio stated:

“Your statement attributing the present economic woes of the country solely on Our Client is most appalling and exposes the inaccuracies in Your assertions, especially, as you were a major player in the immediate Past Administration and worked closely with Our Client and indeed witnessed the innovations he introduced in the banking sector and its impact on the economy whilst in office, as well as the role he played despite all odds in salvaging Nigeria in the P & ID Saga and the positive result it brought for Nigeria.

“You are also aware that no single policy was carried out by Our Client without the approval, directive or authorization of the President and/or the Federal Executive Council of which you were a key and powerful member.

“These baseless and false allegations clearly defames the character of Our Client and has also caused him great pains and embarrassment as it has lowered his esteem before the right thinking members of the Society in addition to the obvious odium and opprobrium from the unsuspecting members of the Society as a result of the falsity contained in that statement.

“We therefore have Our Client’s further instruction to demand from you an unreserved apology in writing, published and circulated by the same medium with which you have defamed his character and the sum of One Billion Naira (N1,000,000,000) as reasonable compensation for the willful and unjustifiable denigration of his hard earned reputation.“In the event that you fail, refuse or neglect to comply with this legitimate demand, Our Client will be at liberty to seek the appropriate redress available to him under the laws of the Federal Republic of Nigeria.”

The letter concluded by emphasizing Emefiele’s intention to pursue appropriate legal recourse if Akpabio fails to comply with the demand.