Former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, is set to remain in custody after failing to meet the N300 million bail set by a Federal Capital Territory (FCT) High Court. The court, presided over by Justice Hamza Muazu, has adjourned the case to January 18, 2024, for further trial.
Emefiele, accused by the Economic and Financial Crimes Commission (EFCC) on six counts of fraud, allegedly conferred advantages through the awarding of contracts, totaling ₦1.2 billion. The charges include awarding contracts for vehicle supplies and engaging in illegal purchases between 2018 and 2020.
Emefiele’s counsel, Mr. Mathew Burkaa, SAN, had previously secured bail for the former governor. The charges specifically point to actions such as awarding contracts to a CBN staff’s company and the illegal procurement of various vehicles.
The company implicated in the alleged fraudulent activities is identified as April1616 Investment Ltd. The trial unfolds as the legal process continues, with Emefiele facing serious accusations related to corruption during his tenure as CBN governor.
Video below;
BREAKING: Godwin Emefiele to remain in prison over failure to meet N300m bail condition as court adjourns case to 18th January, 2024 for continuation of trial. pic.twitter.com/Zuqquyq7bA
— Journalist KC (@kc_journalist) November 28, 2023