The High Court of the Federal Capital Territory (FCT) in sitting in Maitama, Abuja has ordered the remand of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele in Kuje Correctional facility pending ruling on his bail application.
Justice Hamza Muazu issued the order on Friday following Emefiele’s arraignment and his not guilty plea to a six-count amended charge brought against him by the Economic and Financial Crimes Commission (EFCC).
The Federal Government has reduced to six counts the fraud charges it filed against the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele. The charges, bordering on alleged procurement, were originally 20.
In the original charges first filed in August 2023, the EFCC alleged that the procurement fraud allegedly committed by Godwin Emefiele was to the tune of N6.5bn. In the amended charge, the quantum of the alleged procurement fraud was reduced from N6.9bn to N1.2bn.
Emefiele was charged alongside a female CBN employee, Sa’adatu Yaro, and her company, April 1616 Investment in this new charge, Emefiele is the only defendant.
In the amended charge sheet, the EFCC alleged that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2bn. The former CBN governor was also accused of giving a corrupt advantage to Yaro by awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854m.
Count one 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.”
In the second count, Emefiele was accused of using his position to corruptly confer an advantage on Yaro, “a staff of the Central Bank of Nigeria by awarding a contract for the supply of one Toyota Avalon at the cost of N99,900,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro Director and thereby committed an offence.”
He was also accused of conferring corrupt advantage contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000 by awarding a contract for the supply of one Toyota Landcruiser V8 April1616 Investment Ltd., in 2019 at the cost of N73m.
The fourth count was about a Toyota Landcruiser V8 valued at N73,800,000 awarded illegally to April 1616 Investment Ltd.
The FG also accused 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.