Former Governor of the Central Bank of Nigeria, Godwin Emefiele, has been remanded in the Kuje Prison in Abuja on the orders of a Federal High Court after he was arraigned on a 20-count fraud charge to the tune of N6.5 billion.
The former CBN Governor, who was one of the most powerful men in the administration of ex-President Muhammadu Buhari, has been standing trial on an alleged procurement fraud after he was arrested following his suspension by President Bola Tinubu in June.
At his arraignment on Friday, on an amended six-count charge to the tune of N1.6 billion, Emefiele pleaded not guilty and applied for a bail which the presiding Justice Hamza Muazu rejected and ordered that he be remanded in prison till the next adjourned date.
According to the charges preferred against Emefiele, the Federal Government alleged that the disgraced former CBN Governor had illegally procured 43 vehicles between 2018 and 2020 worth N1.2 billion. He was also accused of awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.
Count one of the charge 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.”
The second count reads that Emefiele had used his position as the CBN head 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, to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro was a Director, and thereby committed an offence.
In the third count, Emefiele 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 to April1616 Investment Ltd in 2019 at the cost of N73 million.
The fourth count said he also awarded an illegal contract to purchase a Toyota Landcruiser V8 valued N73,800,000 to the same April1616 Investment Ltd.
In the fifth count, the government accused Emefiele 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.
In his ruling, Justice Muazu ordered that Emefiele be kept in prison till November 22 for ruling on his bail application, and fixed November 28 for the commencement of trial.