FGN To Court: Emefiele Involved In N1.6bn Procurement Fraud

The immediate past governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been accused of being involved in procurement fraud to the tune of N1.6 billion.

The accusation emerged from the Federal Government of Nigeria (FGN) through the criminal charge slammed against Emefiele before Justice Hamza Muazu of the Federal Capital Territory High Court, Abuja.

The FGN had last Friday dragged the former CBN helmsman before the court on a six-count charge bordering on alleged procurement fraud.

The original charge against Emefiele was 20 counts, which amounted to N6.5 billion in alleged procurement fraud.

But the charge was reduced to six counts, which amounted to N1.6 billion alleged procurement fraud.

Interestingly, Emefiele is the only defendant in the new charge. But he pleaded not guilty to the six-count charge after it was read to him.

According to the amended charge, the FGN alleged that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2 billion. 

The former CBN chief was further accused of awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.

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 April 1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a Director and thereby committed an offence.”

Emefiele, in the second count, was further alleged to have used 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 April 1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a Director and thereby committed an offence.”

The troubled former CBN boss was equally 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 to April 1616 Investment Ltd., in 2019 at the cost of N73 million.

The fourth count hinges on a Toyota Landcruiser V8 valued at N73,800,000 awarded illegally to April 1616 Investment Ltd.

The Federal Government further accused the former CBN governor of also awarding a contract to Yaro for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44,200,000 in 2020.

Meanwhile, in his ruling on Emefiele’s bail application, Justice Muazu granted him bail in the sum of N300 million and two sureties in like sum.

According to the judge, the sureties must have certificates of occupancy and titles of properties within the Maitama District.

Justice Muazu also ordered Emefiele to deposit all his travel documents with the registrar of the court and must remain within the Abuja Municipal Council.

The trial has been adjourned until November 28.

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