BREAKING: Emefiele To Remain In Prison Over Failure To Meet N300 million Bail Condition

November 28, 2023

1 min readCategories: News


Former Central Bank of Nigeria (CBN) governor Godwin Emefiele will remain imprisoned for failing to meet the N300 million bail condition ordered by a High Court of the Federal Capital Territory (FCT).

The court also adjourned the case to January 18, 2024, for the continuation of trial.

The Economic and Financial Crimes Commission (EFCC) had arraigned Emefiele on a six-count amended charge bordering on fraud.

Emefiele was arraigned before Justice Hamza Muazu.

Emefiele’s Counsel, Mr Mathew Burkaa, SAN, had secured the application for his bail earlier.

The six-count charges against Emefiele are

That you, Godwin Ifeanyi Emefiele, male, adult…
1. Corruptly confer an advantage on Sa’adatu Ramallan Yaro, a staff of the CBN, by awarding contract for the supply of 37 Hilux vehicles at cost of ₦854.7m in 2018

2 Corruptly confer an advantage on a company where a CBN Staff is a director by awarding a contract for the supply of one Toyota Avallon at the cost of ₦99.0m

3 Conferring corrupt advantage contrary to Section 16 of ICPC Act Toyota Landcruiser V8 in 2019 at the cost of ₦73.0m

4 Illegal award for the supply of Toyota Land cruiser V8: ₦73.8m

5 Award of contract for supply of 2 Toyota Hilux in 2020: ₦44.2m

6 Illegal purchases of 43 vehicles between 2018 & 2020: ₦1.2bn

Company involved: April1616 Investment Ltd.

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About the Author: Olumide Akinrinlola

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