Ex-CBN boss, Emefiele charged with N1.6bn fraud, remanded in Kuje Prison

The Federal Government has brought forth a six-count charge against the former Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, focusing on alleged procurement.

The original charge, initially 20 counts amounting to N6.5 billion, has now been reduced to six, totaling N1.6 billion, with Emefiele as the sole defendant in the new charge.

Appearing in court for a bail application, the ex-CBN governor pleaded not guilty to the revised six-count charge.

Emefiele timely joined the day’s proceedings as per the court schedule.

As per the amended charge sheet, the accusations persist in the realm of procurement fraud. The Federal Government asserts that Emefiele unlawfully acquired 43 vehicles valued at N1.2 billion between 2018 and 2020. He is also accused of awarding a contract for 37 Toyota Hilux Vehicles worth N854 million.

Count one alleges, “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in 2018 within the jurisdiction of this Honourable Court did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa’adatu Ramallan Yaro, a staff of the Central Bank of Nigeria by awarding a contract for the supply of 37 Toyota Hilux Vehicles at the cost of N854,700,000 only to April 1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”

In the second count, Emefiele is accused of corruptly conferring an advantage on Yaro by awarding a contract for the supply of one Toyota Avalon at the cost of N99,900,000 to April1616 Investment Ltd, a company where Yaro is a director.

He is also alleged to have committed an offence by awarding a contract for the supply of one Toyota Landcruiser V8 to April1616 Investment Ltd. in 2019, costing N73 million.

The fourth count relates to a Toyota Landcruiser V8 valued at N73,800,000 awarded illegally to April 1616 Investment Ltd.

The Federal Government additionally accuses the former CBN governor of awarding a contract to Yaro for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44,200,000 in 2020.

Justice Hamza Muazu of the Federal Capital Territory High Court has scheduled the case for ruling on Emefiele’s bail application on November 22 and trial commencement on November 28.

During this interim period, Emefiele has been ordered to be remanded at the Kuje Correctional Centre and was escorted there around 10:40 am.