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Court remands Emefiele in EFCC custody

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Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos has remanded a former Governor of the Central Bank of Nigeria, Godwin Emefiele in the custody of the Economic and Financial Crimes Commission (EFCC).

The former CBN Governor was arraigned by the EFCC for an alleged $4.5 billion and N2.8 billion fraud.

Emefiele was arraigned alongside one Henry Omoile on an amended 26-count charge.

The former CBN Governor was specifically mentioned in counts one to four as well as  counts eight to 26 bordering on alleged abuse of office, contrary and punishable under Section 73 of the Criminal Law of Lagos 2011; accepting gratification, contrary and punishable under Section 8 of the Corrupt Practices and Other Related Offences Act 2000; corrupt demand, contrary and punishable under Section 10 of the Corrupt Practices and Other Related Offences Act 2000; receiving property fraudulently obtained, contrary to and punishable under Section 328 of the Criminal Law of Lagos 2011; and conferring corrupt advantage, contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000.

Omoile was mentioned in counts five, six and seven bordering on acceptance of gifts by agents, contrary to Section 65 of the Criminal Law of Lagos State 2015.

Count one: “That you, Godwin Ifeanyi Emefiele, between 2022 and 2023 in Lagos, within the jurisdiction of this Honourable court, 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.”

Count two: “That you, Godwin Ifeanyi Emefiele, between 2020 and 2021 in Lagos, within the jurisdiction of this Honourable court, 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.”

Count five: “That you, Henry Isioma Omoile, on or about the 17th of November 2020, within the jurisdiction of this Honourable Court, whilst acting as an agent, accepted from Raja Punjab through Moday Osazuwa the total sum of $110,000 for Godwin Ifeanyi Emefiele, gifts as reward for allocating foreign exchange by the Central Bank of Nigeria in favour of Raja Punjab’s employer.”

They pleaded “not guilty” to all the charges when they were read to them.

In view of this,  prosecution counsel, Rotimi Oyedepo, SAN, said: “ By their plea, they have given themselves up for trial. We pray the court to grant accelerated hearing and for us to call our witnesses to prove our case.”

Counsel representing the defendants, A. Labi-Lawal, informed the court of the bail

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