Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has initiated legal action against Senate President Godswill Akpabio, demanding N1 billion in damages for defamation.

Emefiele’s lawyer, Matthew Burkaa, issued a notice to the Senate President, citing Akpabio’s recent statement where he allegedly defamed Emefiele’s character. 

Akpabio reportedly stated that the Federal Government was unsure of the charges to levy against Emefiele, insinuating that he had left the Nigerian economy in disarray.

In response, Emefiele’s legal team deemed Akpabio’s comments as false, distorted, and made in bad faith, intending to disparage Emefiele’s character. They highlighted that charges had been preferred against Emefiele by the Federal Government since August 14, 2023, and Emefiele had pleaded not guilty to the allegations.

Burkaa’s letter to Akpabio emphasized that Emefiele’s policies and actions as CBN governor were conducted with the approval and authorization of the President and the Federal Executive Council, of which Akpabio was a key member. They further argued that Akpabio was well aware of Emefiele’s contributions and efforts during his tenure.