Fact Check: Did former CBN Gov, Emefiele refund N4trillion looted money? - Newstrends
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Fact Check: Did former CBN Gov, Emefiele refund N4trillion looted money?

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Former CBN Governor, Godwin Emefiele during a court appearance

Fact Check: Did Former CBN Governor, Emefiele Refund N4Trillion Looted Money?

Claims: There is a news report making the rounds that the estranged former CBN governor, Godwin Emefiele allegedly refunded N4 trillion looted money to the federal government.

Full Text: According to the online media that circulated this emerging claims, the “Ex-CBN Governor, Emefiele Refunds N4 Trillion, Lemo $500m, As Special Investigator Officer, Obazee, Recovers N12 Trillion From Looted MoneyJim Osayande Obazee, the Special Investigator to investigate the Central Bank of Nigeria (CBN) and related entities, has recovered over 12 Trillion looted mostly by members of the former President Mohammadu Buhari’s administration.#Cbn”(sic)

One of those that followed the news of these latest claims had this to say: “I am speechless… So this could happen under Mr integrity. Nigeria is in a mess and the future of Nigeria is bleaked”…

Another X user (june12 Mandate @Gen_buhar), shared the story with a different caption as follows, “Shocking: Emefiele refunds N4tr, Lemo $500m, $275m and N1.9 tr found with Buhari’s P.A.”

Recall that the former CBN governor, Godwin Emefiele, was first arrested on Friday, June 9, 2023 by the Department of State Services (DSS) after he was suspended by President Bola Tinubu. He was later released on bail on Tuesday, July 26, 2023 but was immediately re-arrested by the Economic and Financial Crimes Commission (EFCC) for alleged illegal possession of firearms and misappropriation of funds.

Verification: Inorder to ascertain the originality of the claims, PRNigeria fact-check team examined related stories across the Nigerian news ecosystem but there was no reputable media platform that had reported any forfeiture by the ex-cbn governor despite the fact that blogging sites like Nairaland carried the story.

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Further online search revealed that the only closest report to the claim as reported by trusted and verifiable news platform was the reported recovery of N1.9 trillion within two months after the naira redesign on 30 January, 2023 as claimed by Emifiele himself while he was still CBN Governor.

Fact Check investigation found that the claim was first posted on X (formally Twitter) by Jackson Ude, a journalist and the tweet, which has since gone viral, has gathered over 82,000 views, 934 likes and 684 reposts.

“Jim Osayande Obazee, the Special Investigator to investigate the Central Bank of Nigeria (CBN) and related entities, has recovered over N12 trillion looted mostly by members of the former President Mohammadu Buhari’s administration. The former CBN Governor, Godwin Emefiele, allegedly returned N4 trillion, gave up ownership of six Banks linked to him, while a Deputy Governor, Tunde Lemo, refunded $500 million. The Committee has also rejected several millions of Dollars in bribe offers from former members of the Buhari’s Government”, Ude tweeted.

PRNigeria reached out to the Ministry of Finance to confirm the validity of the report but the ministry confirmed that it has no such record of such humungous refund.

Mr Emefiele’s family while speaking to The Will, have also described the report as false and an attempt to continue to malign the reputation of the banker.

“This is another lie. Same pattern of lies they have been writing about Godwin Emefiele to destroy his name and reputation. If you follow his persecution, you will clearly see that it is a case of pure witch-hunting and harassment of someone who served this country to the best of his ability. People know the truth. The world knows what is going on. His sin is the Naira redesign policy, which former President, Muhammadu Buhari, has said he approved to protect our elections from vote buying and fraud.

“Nigeria just passed a N2.1 trillion supplementary budget that is being funded by borrowing. Will it need to borrow if it has such so-called refunded money?” said a family source.

Additional investigation by PRNigeria revealed that the 2022 operational income of the apex bank was N2.15 trillion, including the “credit loss expenses of N875bn, of which N610bn was part losses linked to loans and receivables;” according to Budgit Foundation reports on CBN financial statements.

Moreso, according to the Nairametrics report, the audited financials of CBN put the apex bank “net operating income at N1.2 trillion compared to N1.1 trillion in the same period in 2021. Total operating expenses also rose from N1.1 trillion in 2021 compared to N1.2 trillion in 2022.

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Another verification equally revealed that CBN “spent a total of N1.2 trillion on personnel costs in seven years and recorded a net income of N520.04 billion.”

Comparatively, the CBN operating income of N2.15 trillion and N1.2 trillion expenditure in 7 years is far below the alleged N4trillion looted refunds by the embattled former CBN helmsman.

Hence, the N4trillion refunds in questions is above the annual operating income of the central bank of Nigeria.

PRNigeria observed that at the time of the circulation of this claim, the former CBN boss was still in custody and had no verifiable report of entering an official plea bargain.

However, there have been grapevine reports suggesting so.

In September, Sahara Reporters exclusively reported that the embattled former Central Bank Governor, Godwin Emefiele, is set to be released from the detention of the Department of State Services (DSS) after his plea bargain with the President Bola Tinubu’s administration has been concluded, Sahara Reporters has learnt.

Sahara Reporters further gathered that the non-prosecution plea bargain for Emefiele was being premised upon the former governor’s willingness to return N50billion which he had corruptly amassed.

This was followed by unconfirmed report that Mr Emefiele was reportedly set to return over N 1.6 billion to secure a plea bargain.

This is as a Federal High Court in Abuja has given him until January 25 to appear in court to explain circumstances surrounding the $53 million-judgment debt arising from the Paris Club refund.

A Senior Advocate of Nigeria, Mr Joe Agi, had initiated a garnishee proceeding against the CBN for the purpose of recovering a judgment debt of $70m from Linas International Limited and the Minister of Finance.

According to a court document, Form 15 (Judgment Summons), following the garnishee order absolute, the CBN had paid Agi part of the $70m, leaving a balance of $53m.

Meanwhile, Mr Emefiele was granted bail from detention on Wednesday to the sum of N300 million and two sureties in like sum.

According to Justice Hamza Muazu of the Federal Capital Territory High Court Abuja, the sureties must have certificates of occupancy and titles of properties within the Maitama District.

Emefiele is mandated to deposit all his travel documents with the registrar of the court and must remain within the Abuja Municipal Council.

He is expected to remain in Kuje Correctional Centre pending when he meets the bail conditions.

Emefiele was absent Wednesday morning for the ruling on his bail application. His lawyer, Mr Mathew Burkaa, however, said it was normal, as he is already at the Kuje Correctional Centre.

PRNigeria recalls that the Economic and Financial Crimes Commission (EFCC) had arraigned Emefiele on a six-count charge bordering on alleged procurement fraud.The original charge, which was 20 counts of N6.5bn, was reduced to six counts, to N1.6bn.

Conclusion: Findings by PRNigeria revealed that there is no credible and verifiable evidence to the claim that former CBN Governor, Godwin Emefiele has refunded the sum of 4 trillion naira and his arraignment by the EFCC was a six counts of N1.6bn not N4 Trillion.

PRNigeria therefore concludes that the claims that the former CBN boss refunded N4 trillion looted money lacks enough evidence to substantiate the claims.

By PRNigeria

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Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction

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Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction
Commissioner of Police in Sokoto State, CP Hayatu Hassan Shaffa

Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction

SOKOTO – Scores of traders, farmers and travellers have been abducted on a road leading to Sabon Birni Market in Sabon Birni Local Government Area of Sokoto State, in the latest wave of violence to grip the northwestern state, where at least 15 communities remain deserted following coordinated attacks.

Residents said the attackers blocked a major route linking Sabon Birni and surrounding communities before launching their assault. An eyewitness, who requested anonymity, said the gunmen arrived at about 10am on Wednesday on nearly 20 motorcycles and opened fire, causing panic among people heading for the weekly market.

We were sitting near the bridge when we saw them approaching on motorcycles. They started shooting from different directions and abducted travellers, farmers and some women working on nearby farms,” he said.

The witness said at least 20 people were taken away during the attack, describing the abduction in harrowing detail.

It happened right before my eyes. Some of the victims were forced onto motorcycles and taken into the forest. When the motorcycles became full, the bandits tied some victims together in pairs and marched them into the bush on foot. Men were tied to men using their clothes, while women were tied together with their hijabs. Gunshots were everywhere,” he said.

The attackers did not enter Sabon Birni town itself but operated around an area known as Mangwaron Bullun, a junction connecting several communities, including Katsira, Zakin Ganga, Maskin Wuya, Garin Dango, Garin Gardi, Garin Bage and Zududu among others.

A son of one of the victims, identified only as Abdurrashid, told reporters that his mother was among those abducted while working on a farm. He said his father was ill and unable to provide for the family, leaving his mother as their main source of livelihood.

My mother was working on the farm when they took her. Because my father is sick, she is the one taking care of us. I have now taken my younger siblings to stay with our grandparents,” he said.

Another resident said the exact number of victims remained unclear as many families were still trying to account for their relatives. “Some people may only be discovered missing after the closing of the market, when they fail to return home. Since Wednesday is the day of the Sabon Birni market, many of those abducted were traders heading there for business,” he said.

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The Wednesday abduction follows another attack on Sabon Birni town just days earlier. On Monday night, June 8, suspected bandits attacked the community, killing a member of the Sokoto Community Guards and abducting several residents from Kantin Gabas, located on the outskirts of Sabon Birni town near the community’s Eid prayer ground. A resident claimed that about 10 people were abducted during that attack, adding that it was the third attempted invasion of Sabon Birni using the same route.

When contacted, the member representing Sabon Birni Constituency in the Sokoto State House of Assembly, Aminu Boza, said he would verify the incident. However, he had not provided further details as of the time of filing this report despite repeated follow-up calls. Efforts to obtain comments from the spokesperson of the Sokoto State Police Command, DSP Ahmad Rufai, were unsuccessful as calls to his phone were neither answered nor returned.

In a separate operation on Wednesday night, police operatives from the Violent Crime Response Unit (VCRU) and the Anti-Kidnapping Unit successfully repelled an armed bandit attack on Bodinga Village in Bodinga Local Government Area. Security operatives engaged the attackers in a prolonged gun battle, neutralising three suspected bandits and recovering one AK-47 rifle, one magazine and 25 rounds of live ammunition. The Command confirmed that no civilian or security personnel casualty was recorded during the operation.

Earlier on June 4, troops of Operation Fansan Yamma and the 8 Division of the Nigerian Army successfully repelled separate attacks by suspected Lakurawa terrorists and bandits in Sokoto State, rescuing two kidnapped farmers from Tidibale village in Isa Local Government Area. Troops also foiled an attack on the Magonho community in Tangaza Local Government Area, though one civilian sustained a gunshot injury during the exchange of fire.

The abductions come less than two weeks after bandits killed at least 17 people, including seven visitors who had travelled for the Eid-el-Kabir celebrations, when they attacked Dangulbi community in Tureta Local Government Area on May 31. Residents said the attackers, armed with sophisticated weapons and riding on about 150 motorcycles, stormed the community on Sunday morning, opening fire on villagers, looting approximately 20 shops and forcing many residents to flee into nearby forests.

The victims included identified residents such as Munde, Nagoma, Abdullahi, Danbala, Munden Chana, Muhammadu Dan Amo, Hassan, Abubakar Danbaba and Yidi Bafillace. Five of the victims were Sallah visitors from Adarawa in Gummi LGA of Zamfara State, while two others were visitors from Gidan Gambo in Shagari Local Government Area, bringing the total number of visitors killed in the attack to seven.

The bandits remained in the community for several hours after the attack, preventing villagers from recovering and burying the dead until late in the evening. Funeral prayers were eventually conducted after 9:30 p.m. when they left,” one resident said. Many residents have since fled Dangulbi and surrounding communities, seeking refuge in safer areas across Tureta, Shagari, Gummi and Bukkuyum Local Government Areas.

Amnesty International has condemned the killing, calling on Nigerian authorities to urgently investigate the attack, bring those responsible to justice, and strengthen protection for vulnerable communities. “The Nigerian authorities must urgently investigate this attack, ensure that those responsible are identified and brought to justice in fair proceedings, and take immediate steps to protect communities that remain at risk,” the organisation said in a statement.

The recurring attacks have forced residents to abandon their homes across multiple local government areas. According to a report by Daily Trust on June 5, no fewer than 15 communities have been deserted following coordinated bandit attacks carried out between May 31 and June 3 in Tureta and Sabon Birni local government areas. Residents told reporters that at least 52 people were killed in the attacks, including 46 in Tureta LGA communities and six others in Sabon Birni LGA, while hundreds of residents were displaced and dozens of houses destroyed.

Deserted communities in Tureta LGA include Dan Gulbi, Dansanberu, Jandutsi, Baga, Barayar Giwa, Birisawa, Mallanje and Ketare. In Sabon Birni LGA, displaced residents identified affected communities as Gangara, Dantasakko, Kube, Garin Idi, Rigo, Shadawa and Makwarruwa. A religious leader from Gangara community, who is currently displaced, said: “Our entire community has been displaced. We had no option but to leave because of the constant attacks. Several neighbouring villages have also been abandoned.”

In a separate development, the Sokoto State Police Command foiled a bandit attack on Imasa Matankari village in Tureta Local Government Area on June 2, recovering 25 cattle rustled during the assault. Security operatives from the VCRU, Anti-Kidnapping Unit, and personnel of the Nigerian Army’s Forward Operating Base responded to a distress call, engaging the attackers in a gun battle. The fleeing bandits abandoned all the stolen livestock during their retreat. “All 25 rustled cows were recovered in full and have since been returned to their rightful owners,” the command stated, adding that no lives were lost during the operation.

The recurring attacks have raised concerns over the worsening security situation in Sokoto State and its potential impact on farming activities ahead of the rainy season. Residents have appealed to both the federal and state governments to urgently deploy additional security personnel and improve road infrastructure in the area, arguing that poor access roads often delay security responses and leave communities vulnerable to repeated attacks. The Commissioner of Police in Sokoto State, CP Hayatu Hassan Shaffa, has called on residents to support security agencies with credible information, urging members of the public to promptly report suspicious movements and individuals receiving treatment for gunshot injuries.

Bandits Tie Women With Hijabs, March Them Into Forest in Sokoto Mass Abduction

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Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja

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Omoyele Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja.psd

Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja

Human rights activist and former presidential candidate, Omoyele Sowore, was reportedly hospitalised on Friday after collapsing during a Democracy Day protest in Abuja, following the alleged deployment of tear gas by security operatives.

The incident occurred during a demonstration organised by activists and civil society groups to commemorate June 12 Democracy Day and draw attention to pressing national issues, including rising insecurity, economic hardship, governance concerns, and the plight of abducted schoolchildren.

Witnesses said protesters gathered peacefully at Berger Junction before marching toward the Federal Secretariat and Eagle Square. However, the protest reportedly turned chaotic when security personnel fired tear gas canisters into the crowd as demonstrators approached the venue.

The deployment of tear gas triggered panic, forcing protesters and passersby to flee the area. Several participants reportedly suffered breathing difficulties, eye irritation and other effects commonly associated with exposure to tear gas.

Among those affected was Sowore, who was leading the protest. Eyewitnesses said the activist inhaled a significant amount of tear gas and later slumped at the scene. Videos circulating on social media showed fellow protesters rushing to assist him before moving him away from the affected area.

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Sources at the protest venue said Sowore later regained consciousness and was taken to a hospital for medical evaluation and treatment. Although reports suggested his condition had stabilised, there was no immediate official statement from his aides regarding his health status.

Witnesses also alleged that security operatives fired additional tear gas canisters while protesters were attempting to assist Sowore, further escalating tensions and dispersing the crowd. The incident reportedly affected motorists, traders and residents around the protest route.

Despite the disruption, some demonstrators regrouped and continued the protest, insisting that citizens have a constitutional right to peaceful assembly and expression.

The development has sparked fresh criticism from civil society organisations and human rights advocates, who argue that the use of force against peaceful protesters undermines democratic principles and civil liberties.

The Nigeria Police Force had yet to issue a detailed statement on the circumstances surrounding the deployment of tear gas or Sowore’s reported collapse as of the time of filing this report.

The incident is the latest in a series of confrontations involving security agencies and protesters in the Federal Capital Territory, reigniting debates over crowd-control tactics and the protection of fundamental rights in Nigeria.

Sowore Collapses as Tear Gas Disrupts Democracy Day Protest in Abuja

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NSCIA Rejects Claims Linking Nigerian Muslims to Banditry, Kidnapping

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NSCIA Rejects Claims Linking Nigerian Muslims to Banditry, Kidnapping

NSCIA Rejects Claims Linking Nigerian Muslims to Banditry, Kidnapping

The Nigerian Supreme Council for Islamic Affairs (NSCIA) has strongly condemned what it described as growing attempts by individuals and groups, both within and outside the country, to associate Nigerian Muslims with banditry, kidnapping, and other violent crimes. The Council warned that such narratives are false, divisive, and harmful to national unity, especially at a time when Nigeria continues to grapple with serious security challenges.

The statement was issued in Abuja as part of a Democracy Day message released ahead of the 27th anniversary of uninterrupted democratic governance on June 12, 2026. The message was signed under the leadership of the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, and conveyed by NSCIA’s Public Affairs Officer, Abbas Jimoh.

The Council expressed concern over what it described as persistent efforts to unjustly portray Nigerian Muslims as perpetrators of criminal activities, despite many Muslims being victims of terrorism, discrimination, and insecurity themselves. It described the situation as a form of “double jeopardy,” stressing that peaceful Muslim communities across the country are being unfairly stigmatized while also suffering from the same violence being attributed to them.

The NSCIA specifically referenced the recent kidnapping of students and teachers in Orire Local Government Area of Oyo State, saying there were premature attempts by some commentators to link the incident to Islam and Shariah. It argued that such claims were misleading and contributed to misinformation and public misunderstanding, noting that subsequent developments did not support those initial allegations.

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The Council also condemned broader patterns of ethnic profiling in the reporting of criminal cases, insisting that suspects should be identified strictly by the crimes they commit and prosecuted according to the law. It warned that attaching ethnic or religious identity to criminal acts deepens divisions and undermines national efforts to address insecurity.

Reaffirming Islam’s stance, the NSCIA stressed that the religion does not condone violence, banditry, kidnapping, or terrorism in any form. It reiterated its condemnation of all criminal acts and expressed sympathy for victims of insecurity across the country, while calling on perpetrators to abandon violence and embrace peace.

In its Democracy Day message, the Council also reflected on Nigeria’s 27 years of democratic governance, describing June 12 as a symbol of justice, accountability, and national struggle. It said the day serves as a reminder that democracy can only thrive where human dignity, inclusion, and fairness are upheld.

The NSCIA called on journalists, media organisations, and public commentators to exercise caution and professionalism in their reporting, warning against narratives that could inflame tensions or deepen mistrust among Nigeria’s diverse communities. It urged responsible journalism that promotes unity rather than division.

The Council also commended the efforts of the Federal Government, security agencies, and community leaders in tackling insecurity, while calling for greater collaboration to restore peace and stability across the country. It prayed for the protection and success of security personnel working to safeguard lives and property.

It concluded by emphasizing that Nigeria’s diversity should remain a source of strength rather than division, urging citizens to reject narratives that promote hatred and instead work together toward unity, peace, and national development.

NSCIA Rejects Claims Linking Nigerian Muslims to Banditry, Kidnapping

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