Godwin Emefiele, the embattled former governor of the Central Bank of Nigeria, will be charged by the Economic and Financial Crimes Commission on Monday, April 8, 2024, at the Ikeja State High Court in Lagos for allegedly abusing his position by allocating billions of US dollars.
Judge Rahman Oshodi will arraign Emefiele and his co-defendant, Henry Isioma Omole, on 26 counts.
Mr. Rotimi Oyedepo (SAN) filed the charge, which is dated April 3, 2024 and has the ID/23787c/2024 marking.According to the EFCC, Emefiele engaged in official misconduct in Lagos between 2022 and 2023.As the Governor of the Central Bank of Nigeria, Emefiele “directed to be done in abuse of the authority of your office, 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,” according to the commission’s allegations against him.
The EFCC further claimed 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 $291,945,785.59, without bids, which act is prejudicial to the rights of Nigerians” in Lagos between 2020 and 2021.
Emefiele was accused of ordering an arbitrary act in 2021 in Lagos that was “prejudicial to the rights of Nigerians” and “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria.”
The specific act in question was the special allocation of foreign exchange in the amount of $1,769,254,793.16.The amount at stake in count four was $370,872,893.01.Omoile, Emefiele’s co-defendant, was accused of accepting gifts totaling $110,000 for Godwin Ifeanyi Emefiele from Raja Punjab through Monday Osazuwa on November 17, 2020, in Lagos while serving as an agent in exchange for the Central Bank allocating foreign exchange in Raja Punjab’s employer’s favor.
The charge stated that the offenses committed violated Section 73 of the Lagos State Criminal Law of 2011.On Friday, President Bola Tinubu formally ended the months-long investigation by thanking Mr. Jim Obazee, the Central Bank Investigator, for his services.
Ajuri Ngelale, the President’s Special Advisor on Media and Publicity, signed a statement that said, “The investigation is formally closed subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024.”
The statement was read on Friday night.”President Tinubu thanks Jim Obazee as special investigator of the CBN at conclusion of investigation,” reads the statement.After the investigations were concluded, Tinubu stated, all relevant law enforcement and regulatory organizations started carrying out follow-up work.
The President expressed his gratitude to Mr. Obazee for his commitment and professionalism in managing the intricacies of this crucial national task.
He wished the CBN investigator luck in his future endeavors and thanked him for stepping up to the plate.
Jim Obazee, the CEO of the Financial Reporting Council of Nigeria, was designated by the President on July 30, 2023, as a special investigator to look into the Central Bank of Nigeria and associated organizations.