Connect with us

Metro

Court remands former Nigerian Central Bank Governor in prison over alleged N6.5bn fraud

Published

on

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.

Metro

Zambia Police denies suspending officers for failing to prevent Lungu’s public ‘tour’

Published

on

The Zambian Police has denied allegations that six of its officers were placed on suspension for refusing to block former President Edgar Lungu when he took a tour of Lusaka’s Central Business District.

Lungu had, on Thursday, caused a minor stir when he decided to take a walnut around the Lusaka’s Central Business District which turned into a rowdy scene as traders and residents cheered his name, while others whistled and motorists honked in solidarity as he strolled through the area.

Local media reports that despite the potential risks his presence could have generated, Lungu was warmly welcomed at Lusaka’s biggest trading marketplace, Soweto, as he waved at the traders, and motorist while assessing the cost of living and engaging with traders.

Lungu’s actions however, drew a cautious response from the Zambia Police, who have always warned against organising unlawful assemblies.

On Friday, there were various reports that the police had suspended six officers who failed to prevent the ex-President from embarking on the march due to its potential of causing a breach of public peace.

However, the police, in a statement, said the claims were baseless and misleading.

The statement issued bu Police Public Relations Officer, Rae Hamoonga, said contrary to the allegations, no police officer had been suspended on the said allegations.

“Our investigation has revealed that such an incident did not occur, and therefore, no disciplinary action has been taken against any officers in connection with this matter,” Hamoonga said.

The police spokesman urged the public and media outlets to verify information before disseminating it to avoid causing panic and confusion.

“Even the typo errors can show that the statement was done in a hurry by a person with ill motives with such mistakes as ‘commandi’ instead of Command,” he noted.

He further pointed out that Zambia Police Service had no Public Relations Officer with the name ‘Rea Hamoonga, which was quoted as the person who released the statement.

Continue Reading

Metro

U.S. applauds Nigeria’s monetary policies

Published

on

The United States government has commended Nigeria’s monetary policies under President Bola Tinubu which it says has fostered economic growth within the short period he has been in power.

U.S. Deputy Assistant Secretary, Bureau of African Affairs, State Department, Joy Basu, who made the assertion at a digital news conference with select Nigerian journalists, said the government’s policies were conducive for businesses to thrive, as well as strengthening and positioning the nation’s economy for overall growth.

Basu, stressed that the U.S. was committed to fostering its collaboration with Nigeria in order to “tackle myriad pressing issues and obstacles, which Nigeria, being Africa’s largest economy, was facing.”

The envoy said her country was working closely with the U.S. Treasury, Nigerian authorities and African central banks towards ensuring public and private sector economic restoration, stability and prosperity across Africa.

Basu stated that the U.S. was also working on curbing Africa’s security, infrastructure and energy challenges against the backdrop of the recently concluded 16th U.S.-Africa Business Summit in Dallas, Texas,

“We just came back from a meeting in Abuja, which was between the Secretaries of State and the United States is committed to being a good partner of prospect,” Basu said.

“We have made commitments to work on the security situation, infrastructure and energy, which is a common challenge not only in Nigeria but in some other countries in the continent.

“We have made concrete commitments to work on an enabling business environment in Nigeria and to make sure that American companies that are investing in Nigeria are having a transparent experience.

“We are working closely with our U.S. treasury, and with the central banks of African countries, particularly Nigeria and the World Bank, to restore the economy, help the people and ensure public and private companies to thrive,” she added.

Also speaking at the event, Reta Lewis, President, U.S. Export-Import Bank, highlighted U.S. efforts towards bolstering trade and investment across Africa, and emphasised the importance of transparency and accountability in fostering stronger U.S.-Africa partnerships.

“We are prepared to work with African countries and stakeholders from these MoUs to partner and foster competition.

“88.5% of the transactions that Exim does on a yearly basis is in small businesses.

“We feel small businesses are going to be part of the work we do, not only in the U.S. but in Africa,” Lewis said.

She also urged the participating journalists to always highlight the positive strides being made by U.S. to support businesses and bolster economic growth in Africa against the backdrop of the continent’s prevailing challenges.

Continue Reading

EDITOR’S PICK

Metro11 hours ago

Zambia Police denies suspending officers for failing to prevent Lungu’s public ‘tour’

The Zambian Police has denied allegations that six of its officers were placed on suspension for refusing to block former...

Tech11 hours ago

Oracle to increase research, development investments in Morocco

Global IT vendor, Oracle, has announced plans to expand its research and development (R&D) capabilities in Morocco by growing its...

Culture11 hours ago

Kenyan officials arrest four Tiktokers for filming robbery prank video outside police station

Kenyan Police authorities have arrested four young Tiktokers for filming a robbery prank outside a police station in the Kilifi...

Metro16 hours ago

U.S. applauds Nigeria’s monetary policies

The United States government has commended Nigeria’s monetary policies under President Bola Tinubu which it says has fostered economic growth...

Sports16 hours ago

Italian couple name new born baby after Super Eagles forward, Ademola Lookman

An Italian couple have reportedly named their new born baby after Super Eagles forward, Ademola Lookman, after he scored a...

VenturesNow17 hours ago

IMF says Nigeria’s quiet reinstatement of petrol subsidy to gulp 50% of oil revenue

The International Monetary Fund (IMF) has stated that President Bola Tinubu’s administration’s quiet return of petrol subsidy is anticipated to...

Politics17 hours ago

Mozambique’s president confirms northern town under terrorist attack

President Filipe Nyusi announced in a televised address that Mozambique’s military is engaged in combat against Islamist rebels who initiated...

Politics18 hours ago

Chad: Interim president Deby declared winner of disputed election

The state electoral commission of Chad has announced that interim President Mahamat Idriss Deby has secured an absolute victory in...

Tech1 day ago

Ethiopian low-carbon startup Kubik gets $5.2m for its pan-African expansion project

Ethiopia’s low-carbon building startup, Kubik, has announced raising the sum of $5.2 million in seed funding which will enable it...

Metro1 day ago

Youth leader laments infringements on digital rights, language barriers in media access

Limbigani Nyirenda, Executive Director of Easterner Visionary Youth, has voiced his concerns regarding the infringement of digital rights by political...

Trending