Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was remanded in the custody of the Economic and Financial Crimes Commission (EFCC) by Justice Rahman Oshodi of an Ikeja Special Offences Court in Lagos. This decision followed Emefiele’s arraignment on charges of alleged abuse of office.
Emefiele pleaded not guilty to 23-count charges, including abuse of office, accepting gratification, accepting gifts through agents, corruption, and fraudulent property receipt amounting to $4.8 billion and N2.8 billion.
According to the EFCC, Emefiele allegedly abused his authority as CBN Governor by allocating foreign exchange totaling $2,136,391,737.33 without bids, which the commission argued was prejudicial to the rights of Nigerians.
After Emefiele and his co-defendant’s plea of not guilty, EFCC prosecuting counsel Rotimi Oyedepo, SAN, requested a trial date from the court.
Meanwhile, the defense counsel, Abdulakeem Labi-Lawal, filed two bail applications. Labi-Lawal urged the court to grant Emefiele bail either on self-recognition or, alternatively, on liberal terms pending the hearing and determination of the case. He also moved a bail application for the second defendant, urging the court to grant bail on liberal terms.
Justice Oshodi adjourned the matter until April 11, 2024, to rule on the bail applications.
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