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EFCC Set to arraign former CBN governor, Godwin Emefiele, for alleged abuse of office

Emefiele Faces Charges Over Allocation of Billions in Foreign Exchange

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The Economic and Financial Crimes Commission (EFCC) is poised to arraign the embattled former Central Bank of Nigeria governor, Godwin Emefiele, on Monday, April 8, 2024, at the Ikeja State High Court in Lagos. Emefiele and his co-defendant, Henry Isioma Omole, will face 26 counts of alleged abuse of office over the allocation of billions of United States dollars.

The charge, marked ID/23787c/2024 and dated April 3, 2024, was filed by Mr. Rotimi Oyedepo (SAN), alleging that Emefiele committed abuse of office between 2022 and 2023 in Lagos. The EFCC contends that Emefiele directed the allocation of foreign exchange totaling $2,136,391,737.33 without bids, which it claims is prejudicial to the rights of Nigerians.

Additionally, the commission alleges that Emefiele directed similar arbitrary acts between 2020 and 2021, totaling $291,945,785.59, and in 2021, totaling $1,769,254,793.16. Emefiele’s co-defendant, Omole, is accused of accepting gifts as a reward for facilitating these allocations.

The charges, according to the EFCC, contravene Section 73 of the Criminal Law of Lagos State, 2011.

Meanwhile, President Bola Tinubu expressed gratitude to the Central Bank Investigator, Mr. Jim Obazee, for his services, officially closing the months-long investigation into the matter. In a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu thanked Obazee for his dedication and professionalism in handling the complex national assignment.

With the investigation concluded, law enforcement and regulatory agencies are expected to undertake follow-up actions. Tinubu wished Obazee success in his future endeavors, acknowledging his pivotal role in the probe of the Central Bank of Nigeria and related entities.

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