The former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, was released from the custody of the Department of State Services (DSS) on the night of October 26.

Shortly after his release, he was taken into custody by operatives of the Economic and Financial Crimes Commission (EFCC) for further questioning, signaling the likelihood of new charges being filed against him.

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Emefiele had been held by the DSS since June, following his suspension from office by President Bola Tinubu.

During his absence, he was directed to transfer his responsibilities to Folashodun Adebisi Shonubi, who was then the deputy governor in charge of the operations directorate at the CBN.

The day after his suspension, the DSS announced that Emefiele was in their custody for “investigative reasons.”

On July 25, he was arraigned on a two-count charge related to the “illegal possession” of firearms in a federal high court in Lagos. He was granted bail in the amount of N20 million.

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However, on August 17, the federal government withdrew the two-count charge, and it was subsequently struck out.

Nevertheless, a fresh 20-count charge was filed against him, alleging his involvement in a conspiracy to commit procurement fraud, among other charges.