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Alleged N1.6bn Fraud: Court Adjourns Emefiele’s Trial to Jan 2024

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The Federal Capital Territory High Court, Abuja, has adjourned the trial of the immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele over alleged N1.6billion procurement fraud
 to January 18 and 19, 2024.
The ex- bank chief is standing trial on a six count amended charge bordering on fraudulent procurement of vehicles to the tune of N1.6billion.
He had pleaded not guilty to the charge when he was arraigned on November 17.
Thereafter, Justice Muazu ordered that he be remanded at the Kuje Correctional Centre and adjourned the case till November, 22 for ruling on his bail application and November 28 for the commencement his trial.
On November 22, the presiding judge, Justice Hamza Muazu, granted bail to the
the embattled former CBN boss in the sum of N300 million and two sureties in like sum.

Justice Muazu ordered that the sureties must have certificates of occupancy and titles of properties within the Maitama District.

The judge also ordered that Emefiele must remain within the Abuja Municipal Council and to deposit all his travel documents with the registrar of the court.

At the resumption of the matter today (November 28), the Prosecution Witness, who is a top official of the Corporate Affairs Commission (CAC) told the court that Emefiele was not the owner or a shareholder of the April1616 Investment Limited, the firm awarded N1.2billion vehicle supply contract by CBN under Emefiele’s watch.

Led in evidence by EFCC counsel, Rotimi Oyedepo, the CAC official, who tendered several documents on how the company was incorporated on August 1, 2016, read out the names of the shareholders as Aminu Yaro, Maryam Abdullahi and Saadatu Yaro as joint owners of the company.

Emefiele was absent at today’s proceedings as his lawyer, Mathew Burkaa said he was yet to meet his bail conditions.

In the amended charge sheet, the Federal Government of Nigeria alleged that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2 billion.

The former banker was also alleged to have awarded a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.

Count one 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 count two of the amended charge read that Emefiele used his position 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 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro Director and thereby committed an offence.

The federal government also accused Emefiele 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 April1616 Investment Ltd., in 2019 at the cost of N73 million.

The fourth count alleged that the former CBN boss illegally awarded a Toyota Landcruiser V8 valued N73,800,000 to April 1616 Investment Ltd.

He was also accused of awarding a contract to Yaro for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44,200,000 in 2020.

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