The Economic and Financial Crimes Commission (EFCC) has levelled new accusations against Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN). The charges include an alleged fraudulent allocation of $2 billion in foreign exchange, which the EFCC claims was an abuse of his authority during his tenure.
The EFCC has filed a fresh 26-count charge at the Lagos State High Court in Ikeja. The anti-graft agency alleges that Mr Emefiele, during his time as CBN governor, allocated foreign exchange totalling $2 billion ($2,136,391,737.33) arbitrarily and “without bids, which act is prejudicial to the rights of Nigerians”.
The commission asserts that Mr Emefiele committed these offences between 2022 and 2023. The fresh charges were filed on 3 April by the EFCC prosecutor, Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN), as reported by Channels Television on Friday night. The report also states that Mr Emefiele is set to be arraigned before Rahman Oshodi, a judge of the Lagos High Court, Ikeja, on Monday, 8 April.
The alleged offences include accepting gratification, accepting gifts through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantage on his associates. These acts are contrary to the Corrupt Practices Act of 2000. The first count of the charge reads, “that you, GODWIN IFEANYI EMEFIELE between 2022 and 2023, 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: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 (Two Billion, One Hundred and thirty-six million, three hundred and ninety-one thousand, seven hundred and thirty-seven Dollars, thirty-three cents) without bids, which act is prejudicial to the rights of Nigerians.”
In addition to these charges, Mr Emefiele is also facing other corruption charges at the Federal Capital Territory High Court in Abuja. In this case, the EFCC has accused the former CBN governor of criminal conspiracy, conferring undue advantage, and breach of trust, among others. However, Mr Emefiele has denied these allegations, which were originally captured in six counts.
He was first arraigned on 28 November 2023 before the EFCC amended the charges, necessitating a re-arraignment. The commission, in the amended charges, increased the number of counts from six to 20, and dropped a former co-defendant’s name, Sa’adatu Yaro, from the case.
In some of the counts, the EFCC alleges that Mr Emefiele, in January 2023, forged a document titled, ‘Re: Presidential Directive on Foreign Election Observer Missions,’ dated January 2023 with reference number, SGF.43/L.01/201. The EFCC alleges that Mr Emefiele made the claim knowing the same to be false.
In the case marked CR/577/2023, the prosecution alleges Mr Emefiele, on 8 February 2023, connived with one Odoh Ocheme, said to be on the run, to obtain $6.2 million from the CBN, claiming that it was requested by the office of the Secretary to the Governor of the Federation (SGF) “vide a letter dated Jan. 26 2023 with Ref No. SGF.43/L.01/201.”
The EFCC further alleges that a contract for the renovation of the CBN Governor’s lodge, situated at No. 2 Glover Road, Ikoyi, Lagos, was awarded to a company known as Messrs. Architekon Nigeria Ltd. The company’s directors and majority shareholders are said to be the same duo under investigation.
The EFCC asserts that these actions contravene sections 17 and 19 of the Corrupt Practices and Other Related Offences Act, 2000, as well as sections 315, 363, and 364 of the Penal Code. These offences, if proven, could have serious legal implications for the accused.
The court has permitted Mr Emefiele to continue with the bail he was previously granted, pending the outcome of the case. This decision allows him to maintain his freedom while the case is ongoing.
The EFCC has already called several witnesses in the ongoing case. Their testimonies will be crucial in establishing the facts of the case and determining whether the allegations against Mr Emefiele hold up in court. The case continues to unfold, with the Nigerian public keenly watching the proceedings.