N9.6Bn Procurement Fraud: Emefiele, Associates Face 5-Years Jail Term

The suspended Central Bank of Nigeria Governor, Godwin Emefiele, along with his associates, is set to face legal proceedings on Thursday.

The Federal Government is charging Emefiele with N6.9 billion for procurement fraud at the Federal Capital Territory High Court in Maitama, Abuja. Accused in this matter are Emefiele, Sa’adatu Yaro, a female employee of the Central Bank of Nigeria, and her company, April 1616 Investment Limited. They collectively face 20 charges related to procurement fraud, conspiracy, and conferring corrupt advantages upon associates. Emefiele, who has been in detention since his suspension from office on June 9 by President Bola Tinubu, is alleged to have provided corrupt advantages to Yaro, who serves as a director in April 1616 Investment Ltd. This action is in violation of section 19 of the Corrupt Practices and Other Related Offences Act 2000. If proven guilty, Emefiele could face a maximum sentence of five years in prison without the option of a fine. The relevant section against Emefiele and his associates reads, “Any public officer who uses his office or position to gratify or confer any corrupt or unfair advantage upon himself or any relation or associate of the public officer or any other public officer shall be guilty of an offence and shall on conviction be liable to imprisonment for five years without an option of fine.” The charges, endorsed by the Director of Public Prosecutions at the Federal Ministry of Justice, Mohammed Abubakar, Deputy Director of Public Prosecution, Mrs N Jones-Nebo, and other officials, assert that the accused parties acquired an array of over 98 luxury vehicles and armoured buses amounting to approximately N6.9 billion between 2018 and 2020. The vehicles encompassed 84 Toyota Hilux vehicles, 10 armoured Mercedes Benz buses, three Toyota Land Cruisers, and one Toyota Avalon car. Count one of the charges outlines, “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in 2018 within the jurisdiction of this honourable court did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa’adatu Ramallan Yaro... and thereby committed an offence.” The case further alleges instances of conspiracy to confer corrupt advantages on the defendants and transactions involving contracts for various vehicles. The trial lists witnesses against Emefiele, including officials from the CBN's procurement department and others yet to be supplied. In a separate development, a Federal High Court in Lagos is preparing to rule on the application to withdraw illegal possession of firearms charges against Emefiele. The hearing was set after arguments from the Director of Public Prosecutions, Abubakar, and Emefiele's counsel, Joseph Daudu SAN. The application's withdrawal is being sought due to emerging circumstances necessitating further investigations. It remains to be seen how these legal proceedings will unfold, and the public will be watching closely for the outcome of this high-profile case.