Bakare maintained that Emefiele should be prosecuted if found guilty of any crime. He alleged that events before the 2023 presidential election pointed to the direction of political vendetta against the suspended CBN governor by President Bola Tinubu.
“Mr Godwin Emefiele may have made the wrong judgement calls in the management of Nigeria’s monetary policy, but he must not be made a scapegoat.
“In the provisions of the central bank of Nigeria, CBN Act 2007, there is every possibility that the erstwhile central bank governor did not act without presidential authorisation.
“If Emefiele is found liable for any crime, by all means, he should be prosecuted. However, considering the dynamics of the pre-election environment and the then-candidate Bola Tinubu’s public allegation that the naira redesign policy was targeted at him, the optics of the president targeting Emefiele for prosecution after winning the election and being sworn in as the president could be interpreted as a form of vendetta far beneath such a distinguished office,” Bakare said.
Bakare also berated the Department of State Services (DSS) for their role in Emefiele’s arrest and detention.
“Considering the claims of the DSS that its actions were in reaction to order from above, handling of Emefiele case has sent a signal to the world that the current president’s disposition to the war against corruption is primarily motivated by the clampdown on the perceived political adversaries, while various other enemies of Nigeria remain untouched,” he said.
The Federal High Court sitting in Lagos has adjourned the case till Tuesday, August 15, for further hearing.