According to DSS sources, Godwin Emefiele, the Central Bank of Nigeria's suspended governor who is now being held in custody, has named a number of traditional leaders, judges, and generals in the Nigerian Army as his allies.

Emefiele, who is allegedly "cooperating with investigators," allegedly described how he occasionally offered money to judges, army generals, even monarchs while in office.

Both the suspended CBN governor and Abdulrasheed Bawa, the chairman of the Economic and Financial Crimes Commission (EFCC), have been detained since they were removed from their positions by President Bola Tinubu's administration due to allegations of corruption and abuse of power.

On June 15, SaharaReporters alleged that Emefiele had identified Bawa as a co-conspirator in the Naira Redesign Scam that had engulfed the nation a few months prior.

The Naira redesign scam was one of numerous issues that Emefiele and Bawa, who were both being interrogated, were being asked about, according to information obtained by bendelnews.

DSS sources told bendelnews on Wednesday that Emefiele was "revealing a lot" and had named several key collaborators in his mishandling of the nation's biggest bank.

According to Emefiele, he is helping the police by providing a lot of information. One of the reports indicated that Emefiele "corrupted and bought almost every major traditional ruler, army generals, some judges, and clerics.

He said, "Nearly all the CBN directors are also being questioned, and they too are cooperating."

According to a statement from Willie Bassey, the director of information for the secretary to the government of the federation, George Akume, bendelnews had earlier reported that Emefiele had been suspended "sequel to the ongoing investigation into his office and the planned reforms in the financial sector of the economy."

Emefiele and then-President Muhammadu Buhari unveiled new naira notes with denominations of N200, N500, and N1,000 on November 23, 2022. Emefiele reiterated that beginning of January 31, 2023, the old notes will no longer be accepted as legal tender.

After the event, Bola Tinubu, the then-presidential candidate of the ruling All Progressives Congress, was rumoured to be the target of the move, which was pushed by the Presidency cabal and was intended to prevent Tinubu from winning the February 25, 2023 election. Emefiele addressed the media and insisted that the move was not directed at anyone.

The lack of fresh naira notes due to the CBN's inability to keep up with demand resulted in extreme hardship for Nigerians as a result of the programme. Due to the policy, there was a shortage of cash and long lines at banks and ATMs.

The reason the EFCC chairman was held overnight was Emefiele, who is currently cooling his feet in a DSS cell. A top source previously told SaharaReporters that Emefiele, who is working with the DSS, stated that Bawa was the one who sent a memo to former President Muhammadu Buhari requesting that the Naira be changed to prevent money laundering during the 2023 election.

Emefiele and the former Attorney-General of the Federation, Malami, approached Bawa to bring up the letter because they believed Tinubu had warehouses loaded with naira notes, the source said. Bawa confronted him with this information.

Due to the lack of new Naira notes in February and March, Nigerians experienced severe difficulties with the Naira redesign and cashless policy.

Even worse, Emefiele ignored a Supreme Court decision that declared the old notes lawful money until December 31 when former President Buhari disavowed his involvement in Emefiele's defiance of the court's order.

In February, bendelnews detailed how the DSS tried to detain Emefiele, but the then-chief of the military staff, Gen. Lucky Irabor, protected him by assigning soldiers to watch his home and workplace.

According to the DSS, it ramped up its inquiries in order to apprehend and charge Emefiele with fraud and financing terrorism.

In February, bendelnews also revealed that fresh court records seized from the DSS accused Emefiele of supporting "unknown gunmen" who terrorised the nation's Southeast.