Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the Economic and Financial Crimes Commission (EFCC), is investigating the approval of the gas processing deal with Process and Industrial Development gas processing deal.
Emefiele made this known on Monday while fielding questions from journalists on Monday before the commencement of the presidential retreat for ministers-designate at the State House Conference Centre.
โI am not scared at all and I think it is also important that this question has come up,โ he responded when asked if he was scared of the impact of the judgement of the nationโs foreign reserves.
A British court had given P&ID the go-ahead to seize Nigerian assets worth $9 billion over the governmentโs inability to meet its side of an agreement to build a gas processing plant in Calabar, Cross River.
โSince the news about the judgement broke out late on Friday, we have been discussing with our counsels, and they have advised that there are sufficient and strong grounds on the basis of which we could file a stay of execution and also an appeal against that judgement.
โThere are certain anomalies in the process leading to the award of that contract which is currently being looked into by the EFCC and I believe that the EFCC themselves have their own investigation reports about that.
โSo, we will follow through and aggressively too on ensuring that the execution of that judgement is stayed and that the appeal succeeds at every level both within Nigeria and abroad.โ
In a statement released on Saturday, Reno Omokri, an ex-aide to former president Goodluck Jonathan, had alleged that a cabal loyal to now-deceased former president Umar Musa Yarโaduaย signed the deal in January 2010ย while Jonathan became acting president in February of the same year.
Emefiele assured that the CBN will move strongly to defend the countryโs reserves as the judgement would have some impact on monetary policy.
โIt is important for me to use this opportunity to assure our friends, local and foreign investors who called to expressed solidarity with us, not to express concern but to say that there is no need for anybody to worry. We know that the implication of that judgement has some impact on monetary policy and that is why the CBN is going to step forward and very strongly too to ensure that we defend the country and defend the reserves of the Federal Republic of Nigeria.โย (The Cable)
