Politics

BREAKING: Emefiele arrives Lagos court over fresh $370 million fraud [PHOTO]

The former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for his arraignment on fresh charges.

Emefiele is facing allegations of misuse of office and improper allocation of financial resources. Alongside Henry Isioma Omole, a co-defendant, Emefiele will be facing 26 new counts, presided over by Justice Rahman Oshodi.

The charges, detailed in the document ID/23787c/2024 and dated April 3, 2024, were brought forward by the Economic and Financial Crimes Commission (EFCC). They accuse Emefiele of engaging in acts of abuse between 2022 and 2023 while in office in Lagos, to the detriment of Nigerian citizens.

The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

EFCC further alleged that between 2020 and 2021, Emefiele “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary, act to wit: allocating foreign exchange in the aggregate sum of $291,945,785.59, without bids, which act is prejudicial to the rights of Nigerians.

Emefiele was alleged to have, in 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: special allocation of foreign exchange in the aggregate sum of $1,769,254,793.16, which act is prejudicial to the rights of Nigerians.”

In count four, the sum involved was $370,872,893.01.

Emefiele’s co-defendant Omoile was alleged to have November 17, 2020, in Lagos, whilst acting as an agent accepted from Raja Punjab through Monday Osazuwa, the total sum of $110,000, for Godwin Ifeanyi Emefiele, gifts as a reward for allocating foreign exchange by the Central Bank in favor of Raja Punjab’s employer.”

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