Alleged Procurement Fraud: Ex-CBN Gov, Emefiele pleads not guilty

The former Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele, on Friday, pleaded not guilty to an amended six-count charge that the Economic and Financial Crimes Commission (EFCC) preferred against him.

Emefiele, who was docked before a High Court of the Federal Capital Territory (FCT) sitting at Maitama, was later remanded in prison custody by trial Justice Hamza Muazu.The trial judge held that he should remain at the Kuje Correctional Center, pending the determination of bail application, even as he adjourned further proceedings in the case till November 22.

The defendant had through his team of lawyers led by Mr. Mathew Burkaa, SAN, pleaded the court to admit him to bail, pledging that he would make himself available for the trial.

Besides, he argued that the charge the anti-graft agency entered against him, contained bailable offences.

However, the prosecution counsel, Mr. Rotimi Oyedepo, urged the court to refuse the bail application, insisting that the Defendant posed a flight risk.

Oyedepo told the court that the erstwhile CBN boss, being a man of means, was capable of influencing some of the proposed witnesses in the matter.

After he had listened to both sides, Justice Muazu said he would need time to study some of the exhibits that were attached in support of Emefiele’s bail application.

Specifically, Emefiele was in the amended charge marked CR/577/2023, accused of complicity in a procurement fraud that was to the tune of about N1.2billion.

Though the initial charge the EFCC filed against him contained 20 counts and had a female CBN employee, Sa’adatu Yaro and her company, April 1616 Investment, as defendants, however, only Emefiele was listed as a defendant in the amended charge.

The prosecuting agency alleged that the former CBN governor illegally bought 43 vehicles between 2018 and 2020, worth N1.2bn.

He was further accused of giving a corrupt advantage to Yaro by awarding her a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854m.

One of the counts in the charge, read: “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 April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”

It will be recalled that President Bola Tinubu had on June 9, suspended Emefiele from office as the head of the apex bank.

He was later arrested at his Lagos residence by the Department of State Services, DSS.

Emefiele had since then, faced a two-count charge of illegal possession of a firearm and ammunition before the Federal High Court in Lagos, as well as a 20-count corruption charge.

Proceedings in both cases were put on hold, following the decision of the Defendants to explore a plea bargain deal with FG.

The former CBN boss was later transferred to the EFCC detention facility on October 26, by the DSS.

Following a fundamental right enforcement suit he filed through his lawyers, Justice Olukayode Adeniyi, on November 8, ordered his immediate release from detention, after he had spent 151 days in the custody of security agencies.