Emefiele Gets New Year Date Over N1.6bn Fraud Case, Fails To Meet Bail


A Federal Capital Territory High Court in Abuja today Tuesday adjourned an alleged procurement fraud case involving former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The court adjourned the trial of the ex-bank chief to January 18 and 19, 2024 for continuation of trial.

According to Emefiele’s lawyer, Mathew Burkaa, the banker was yet to meet his bail conditions.

He was brought to court and taken away by armed personnel of the Nigerian Correctional Service.

Emefiele currently faces trial on a six count amended charge on alleged procurement of vehicles to the tune of N1.6bn. The former CBN Governor was accused of using his position to confer a corrupt advantage on Sa’adatu Yaro, a staff member of the CBN by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.

The ex-CBN Governor had pleaded not guilty to the charges.

He was subsequently remanded at the Kuje Correctional Centre pending a ruling on his bail application.

He was granted bail on November 17, 2023 to the tune of N300 million and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions.

At the resumed hearing, the Prosecution Witness, who is a top official of the Corporate Affairs Commission (CAC) told the court that the Emefiele was not the owner or a shareholder of the April 1616 Investment Limited, awarded N1.2bn vehicle supply contract by CBN under Emefiele.

He was led in evidence by EFCC lawyer, Rotimi Oyedepo, while tendering several documents on how the company was incorporated on August 1, 2016.

He further read out the names of the shareholders of the Company which comprises of Aminu Yaro, Maryam Abdullahi and Saadatu Yaro as joint owners of the entity.


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