Categories: News

Emefiele’s case adjourns till January 2024, remanded in Prison

The Federal Capital Territory High Court has adjourned till January 18, 2024, the case of the former Central Bank of Nigeria governor, Godwin Emefiele, in an alleged procurement fraud suit. 

Emefiele faced allegations of leveraging his role to grant a corrupt advantage to Sa’adatu Yaro, a CBN staff member, through the allocation of a contract for the purchase of 43 vehicles valued at N1.6 billion from 2018 to 2020. 

Advertisement

He was subsequently remanded at the Kuje Correctional Centre pending a ruling on his bail application on November 22. 

However, Emefiele was granted bail by Justice Hamza Muazu, with the stipulation that he pay N300 million. 

Advertisement

Charges and Detainment

Emefiele is standing trial on a six-count amended charge on alleged procurement of vehicles to the tune of N1.6bn. 

He had pleaded not guilty to the charges. 

Advertisement

During the court session, a key figure from the Corporate Affairs Commission (CAC) testified that Emefiele neither owned nor held shares in April1616 Investment Limited.  

This revelation contradicted previous claims, as the company had been granted a N1.2 billion vehicle supply contract by the CBN under Emefiele’s leadership.

Advertisement

The Prosecution Witness, a high-ranking CAC official, emphasized this disconnect in ownership during the hearing. 

He proceeded to announce the Company’s shareholders, including Aminu Yaro, Maryam Abdullahi, and Saadatu Yaro, who collectively own the entity. 

Advertisement

Emefiele’s lawyer, Mathew Burkaa, who declined to speak on camera, said Emefiele is yet to meet his bail conditions. 

Counsel for the Economic and Financial Crimes Commission (EFCC) and the Federal Government declined to speak on the day’s proceedings. 

Advertisement

The former CBN chief was brought to court and taken away by armed personnel of the Nigerian Correctional Service. 

Advertisement
citynews

Recent Posts

Tinubu promotes Acting Chief of Army Staff, Oluyede to Lt Gen

President Bola Tinubu has promoted the acting Chief of Army Staff, Olufemi Oluyede to the…

36 mins ago

Digital Transformation: Maida, Kekere-Ekun Speak At NCC’s Annual Workshop for Judges in Lagos

Welcome Address Delivered at the 2024 Edition of the Judges Workshop at Sheraton Hotel Ikeja,…

6 hours ago

Breaking: House Of Reps Finance Committee Visits FIRS

The House of Representatives Finance Committee has paid a working visit to the headquarters of…

8 hours ago

BREAKING: Tinubu govt drops treason charges against EndBadGovernance protesters

  The Federal High Court in Abuja has dismissed the treason charges brought against the…

12 hours ago

#USRoadToWhiteHouse2024: Trump-Harris polls remain tied in battleground states…

What to know about the end of the #USElection2024 campaign The most recent polling analysis…

12 hours ago

#USElection2024 Live Updates: Trump Vs Harris…Latest Results…Latest Polls

#US election 2024 Live Updates:  What you need to know about USelection2024 latest polls •…

12 hours ago