Chief Justice J.T. Tsoho dismissed the applicant's ex parte application because the secret police had not presented adequate proof to back up their claims that Emefiele was financing terrorism and economic crimes.
“The honourable judge also wondered why the respondent’s name was given simply as ‘Godwin Emefiele,’ without a material disclosure that he is the same person as the CBN governor, a high-ranking public official who occupies a susceptible position,” the source said.
The court ruled that the application should have had the president's signature since the arrest and imprisonment of the CBN governor would have serious economic repercussions for Nigeria.
Some have suggested that the effort to arrest Emefiele may have political motivations because of the possible impact the redesigned naira and cash withdrawal restrictions may have on vote-buying in the 2023 elections.
Despite the protests of certain politicians who claim they are being targeted, Emefiele has the full backing of President Muhammadu Buhari on the new naira.
The DSS issued a statement declaring it would not be frightened or misled by propaganda in reaction to rumours that it planned to frame and arrest the Central Bank Governor, Godwin Emefiele.