Emefiele Arraigned For N6.9 Billion Fraud

The suspended Central Bank of Nigeria Governor, Godwin Emefiele, will on Thursday, August 17, be arraigned alongside an associate, Sa’adatu Yaro, for N6.9 billion procurement fraud at the Federal Capital Territory (FCT) High Court in Abuja.

Mr Emefiele, who has been in detention since his suspension from office on June 9, was accused of conferring corrupt advantages on Yaro, a director in April 1616 Investment Ltd.

The offence is contrary to Section 19 of the Corrupt Practices and Other Related Offences Act, 2000.

In the charges, jointly signed by the Director of Public Prosecutions, Federal Ministry of Justice, Mohammed Abubakar; Deputy Director, Public Prosecution, Nkiru Jones-Nebo and eight other ministry officials, the three accused persons are alleged to have bought a fleet of over 98 exotic vehicles and armoured buses valued at about N6.9 billion.

Some of the vehicles bought between 2018 and 2020 included 84 Toyota Hilux vehicles, 10 armoured Mercedes Benz buses, three Toyota Landcruisers and one Toyota Avalon car.