Ex-CBN Governor, Emefiele to Enjoy Christmas, New Year in Prison
The former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, faces extended detention over the Christmas and New Year holidays after failing to meet bail conditions on Tuesday.
Emefiele, charged by the Economic and Financial Crimes Commission (EFCC) with six counts related to alleged procurement procedure breaches, pleaded not guilty to an amended charge dated Nov. 8, 2023.
Originally facing 20 charges alongside Mrs. Sa’adatu Yaro and April 1616 Investment Limited, Emefiele became the sole defendant in the amended charge.
During the trial, prosecution witness Shamsudeen Abulili from the Corporate Affairs Commission (CAC) testified that Emefiele had no connection to April 1616 Investment Limited, detailing the company’s incorporation and shareholders.
Remigious Ugwu, a Compliance Officer with Zenith Bank, provided evidence of significant sums deposited by the CBN into April1616 Investment Limited’s account, emphasizing that none of these transactions were linked to Emefiele.
Oluwole Owoeye, a Deputy Director at CBN, testified about the procurement process but clarified that Emefiele’s committee was not involved in vetting bids for contracts leading to the charges. The witness admitted that other committees handled such matters during Emefiele’s tenure.
Justice Hamza Muazu adjourned the trial until January 18 and January 19, 2023, following these testimonies.
