Suspended CBN Governor Godwin Emefiele Faces N6.9 Billion Fraud Allegations

Suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, stood before the Federal Capital Territory (FCT) High Court in Abuja on August 17, facing allegations of N6.9 billion procurement fraud.

However, the anticipated arraignment encountered a setback due to the absence of the second defendant, who was reported to be indisposed.

While Emefiele, the primary defendant, was present in the courtroom, the absence of the second defendant, Sa’adatu Yaro, a female CBN employee, led to an application for adjournment. In response, Presiding Judge Justice Hamza Muazu rescheduled the proceedings for August 23, 2023.

The impending arraignment involves Emefiele, Yaro, and her company, April1616 Investment Limited, facing 20 charges related to procurement fraud, conspiracy, and conferring corrupt advantages on associates. Emefiele is alleged to have bestowed corrupt benefits upon Yaro, who serves as a director at April 1616 Investment Ltd.

These accusations of conferring corrupt advantages contravene Section 19 of the Corrupt Practices and Other Related Offences Act 2000, leading to a legal process that will further unfold in the coming days.