FG vs Emefiele: Court Order Ex-CBN to be remanded in Kuje Prison

The Federal Government had brought charges against Godwin Emefiele, former Governor of the Central Bank of Nigeria, accusing him of fraudulent activities.

The allegations included the illegal purchase of 43 vehicles totalling N1.2 billion between 2018 and 2020. Emefiele pleaded not guilty to a six-count amended charge, down from the original 20 counts, concerning procurement irregularities.

One of the accusations involved awarding contracts to a company linked to a CBN staff member. For instance, the procurement of 37 Toyota Hilux Vehicles at N854 million, and a Toyota Avalon at N99.9 million were cited. Other allegations revolved around awarding contracts totalling N73 million and N44.2 million to the same company.

Emefiele appeared in court and pleaded not guilty to the charges. Justice Hamza Muazu of the Federal High Court in Abuja adjourned the case until November 22 for ruling on Emefiele’s bail application, and November 28 for the commencement of trial. He ordered that the defendant be remanded in Kuje correctional facility until then.

This legal tussle stemmed from Emefiele’s suspension by President Bola Tinubu, who initiated a probe into the operations of the Central Bank during Emefiele’s tenure.

The apex bank’s audited financial statement revealed debts to JP Morgan and Goldman Sachs amounting to $7.5 billion as of December 2022.

Emefiele had earlier undergone custody under the secret police(DSS) before being transferred to the EFCC, where he faced charges and was subsequently granted bail.

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