Ex-CBN Governor, Emefiele Arrives Lagos Court For Arraignment

• Ex-CBN Governor, Emefiele Arrives Lagos Court For Arraignment.

• Allegations include arbitrary allocation of billions in foreign exchange without proper bidding.

• EFCC accuses Emefiele of corruption during his tenure, violating the Corrupt Practices Act.

EKO HOT BLOG reports that Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, currently grappling with various challenges, made an appearance at the Ikeja High Court in Lagos.

Emefiele stood before the court to answer charges concerning the alleged misuse of his authority and the allocation of billions of dollars. Accompanying him as a co-defendant was Henry Isioma Omole. Justice Rahman Oshodi is scheduled to preside over the proceedings this morning, presenting both individuals with 26 fresh charges.

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According to the charge sheet dated April 3, 2024, and identified by reference ID/23787c/2024, the Economic and Financial Crimes Commission (EFCC) has accused Emefiele of abusing his authority in Lagos between 2022 and 2023.

The commission alleged that Emefiele “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.”

Emefiele Arrives Lagos Court

It was reported earlier that the nation’s anti-graft agency, EFCC, filed fresh charges against Emefiele, which are expected to be addressed before Justice Rahman Oshodi on Monday (today).

These fresh charges come after the EFCC Prosecutor, Rotimi Oyedepo, initiated the case on April 3rd. The case spotlights significant allegations of corruption during Emefiele’s tenure as the CBN governor.

According to the charge sheet, the former central bank head is accused of several illicit activities, including the acceptance of gratification through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantages on associates, actions contrary to the Corrupt Practices Act of 2000.

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One of the pivotal counts accuses Emefiele of directing an arbitrary allocation of foreign exchange totalling $2,136,391,737.33 without appropriate bidding processes—an act that purportedly compromised the rights of Nigerian citizens and flaunted his office’s duties.

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