Metro

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

Published

1 year ago

November 18, 2023

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.

Related Topics:Central Bank of Nigeria Featured fraud Godwin Emefiele Prison

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Metro

Zambia: Farmers’ union warns of uncertain future for agriculture sector

Published

2 hours ago

November 24, 2024

Isaac Dachen

The Small-Scale Farmers Development Agency (SAFADA) of Zambia has warned of uncertainty on the future of the agricultural sector, stating that its outlook over the next 25 years remains uncertain and gloomy.

The Executive Director of SAFADA, Boyd Moobwe, who raised the concerns in a telephone interview with Zambia Monitor on Saturday, expressed regrets that the agric sector was facing critical challenges that could hinder its contribution to the country’s Gross Domestic Product (GDP) and overall economic growth by 2030.

Moobwe admitted that the rapid changes in agriculture due to new technologies and innovations, has been slow amid the inconsistent implementation of these advancements which raises questions about the sector’s ability to survive amidst the growing threats of climate change, political instability, and economic difficulties.

The SAFADA Director pointed out that many of the problems plaguing agriculture were self-inflicted.

“The current measures for agricultural and rural financing are inadequate due to poor data analysis and utilisation,” Moobwe said.

Agriculture, he said, “had the potential to revive the economy if proper policies were introduced and if small-scale farmers were fully involved in planning and implementing agricultural projects.”

Metro

Nigeria: CSO urges President Tinubu to investigate missing funds in Humanitarian Ministry

Published

6 hours ago

November 24, 2024

Isaac Dachen

A Nigerian civil society organization, the Socio-Economic Rights and Accountability Project (SERAP), has called on President Bola Tinubu to launch an investigation into the over N57 billion that allegedly went missing in the Ministry of Humanitarian Affairs and Poverty Alleviation in 2021.

The organisation, in a statement on Sunday, urged the president to direct the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, as well as other anti-corruption agencies to commence a probe into the allegations without delay.

In the letter issued by SERAP’s Deputy Director, Kolawole Oluwadare and addressed to President Tinubu, the group warned against sweeping the allegations under the carpet as the Nigerian public has a right to know what happened to their money.

“The allegations amount to stealing from the poor. There is a legitimate public interest in ensuring justice and accountability for these grave allegations,” the watch dog group said.

“The allegations also suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation, and international anticorruption obligations.

“Hundreds of billions of naira are also reportedly missing in other Ministries, Departments and Agencies (MDAs).

“Poor Nigerians have continued to pay the price for the widespread and grand corruption in the Federal Ministry of Humanitarian Affairs and Poverty Alleviations and other Ministries, Departments and Agencies (MDAs).

“According to the 2021 annual audited report by the Office of the Auditor-General of the Federation, the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, (the ministry) in 2021 failed to account for over N54 billion meant to pay monthly stipends to Batch C1 N-Power volunteers and non-graduate trainees between August and December 2021.

“The money was not directly paid to the beneficiaries. The Auditor-General is concerned that the money may have been diverted. He wants the money recovered and remitted to the treasury. He also wants suspected perpetrators of the diversion to be sanctioned in line with the Financial Regulations.

“The ministry reportedly failed to account for over N2.6 billion of public funds meant for the home-grown school feeding programme during Covid-19, as the programme was never executed. The money was allegedly paid to five contractors to procure, package and distribute Covid-19 palliatives to Kano, Zamfara and Abia states, but without any trace.

“The ministry also reportedly spent over N78 million to carry out a survey on the ministry’s Covid-19 response to states and vulnerable groups but without any approval or document.

“The ministry also reportedly failed to account for N400 million meant to pay stipends to 4,450 independent monitors for October, November, and December 2021.

“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.

“SERAP urges you to immediately enforce the judgment by Hon. Justice Deinde Isaac Dipeolu of the Federal High Court, Lagos, ordering your government to release the spending details of N729 billion by Mrs Sadia Umar-Farouk, the former Minister of Humanitarian Affairs, Disasters Management and Social Development,” SERAP warned.