The Center for Financial Surveillance and Illicit Transaction Tracking Group (CSITT) has raised the alarm of looming consequences over unprovoked attack on the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, by the Department of State Services (DSS) over the new cash withdrawal policy of the apex bank.

The group in a statement by its director, John Dimu, said that Egmont Group, a 164 countries membership forum that provides financial units with a platform to securely exchange expertise and financial intelligence to combat money laundering and terrorist financing among others, would have suspended Nigeria if DSS had framed Emefiele for terrorism

CSITT said Nigeria risked being blacklisted by global financial bodies due to DSS allegations against the nation's number one Banker.

The group added that suspension of Nigeria from the group if it happens will be embarrassing given that the country has been suspended back in 2017 over lack of a legal framework and autonomy.

The statement reads, "We received with disappointment the reports of discovery of a Suit secretly filed by the State Security Service wherein it accused Godwin Emefiele of terrorism financing as well as other crimes it described as economic crimes of national security dimension.

"The allegation that the SSS embarked on this plot to remove the CBN Governor for political and pecuniary reasons, is not only a huge shame but against the ethics of the Egmont group which Nigeria is a member of.

"Recall that the group had suspended NFIU, an arm of the Economic and Financial Crimes Commission, after its plenary in Macao, China, on July 2, 2017.

"The group suspended Nigeria as a result of its lack of a legal framework and autonomy.

"It's quite shocking that DSS could be found being part of this illegal move.

"We advise DSS to focus on its mandate rather than becoming lapdogs for politicians."