Why Emefiele Will Spend Christmas And New Year Celebrations In Prison

Why Emefiele Will Spend Christmas And New Year Celebrations In Prison

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The former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, facing charges from the Economic and Financial Crimes Commission (EFCC), is set to spend both the Christmas and New Year Day celebrations behind bars after failing to meet his bail conditions on Tuesday.

Emefiele has been charged with six counts related to an alleged breach of procurement procedure in the award of a contract to April1616 Investment Limited. Initially charged in August alongside Mrs. Sa’adatu Yaro and April 1616 Investment Limited, the arraignment was postponed due to Yaro’s reported ill health.

In the latest development, the charges were amended, reducing them from 20 to six, with Emefiele as the sole defendant. He pleaded not guilty to the charges.

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During the trial, the first prosecution witness, Shamsudeen Abulili, an officer of the Corporate Affairs Commission (CAC), testified about the incorporation of April 1616 Investment Limited and confirmed that Emefiele’s name was not connected to the company. The witness presented documents detailing the company’s shareholders.

The second witness, Remigious Ugwu, a Compliance Officer with Zenith Bank, provided evidence of substantial sums of money transferred by the CBN into April1616 Investment Limited. He highlighted specific transactions, emphasizing that these payments had no connection to Emefiele’s name, and he was not a signatory to the company’s bank account.

The third witness, Oluwole Owoeye, a Deputy Director of Banking Services with CBN, testified about his role in ensuring compliance with the Procurement Act. However, he clarified that his committee was not involved in the vetting of bids for contracts, as another committee handled such matters during Emefiele’s tenure as CBN governor.

Following these testimonies, Justice Hamza Muazu adjourned the case until January 18 and January 19, 2023.

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