EFCC Witnesses Clear Emefiele of N1.2bn Contract Fraud Allegations

EFCC Witnesses Clear Emefiele of N1.2bn Contract Fraud Allegations.

The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, commenced at the High Court of the Federal Capital Territory in Abuja. The Federal Government, through the Economic and Financial Crimes Commission (EFCC), accused Emefiele of six counts related to an alleged breach of procurement procedure in the award of N1.2 billion vehicle supply contracts to April1616 Investment Limited during his tenure. Three witnesses testified, exonerating Emefiele from wrongdoing.

The first witness, Samsideen Romanus of the Corporate Affairs Commission (CAC), confirmed that Emefiele was neither the owner nor shareholder of April1616 Investment Limited. The second witness, Remigious Ugwu, a Compliance Officer with Zenith Bank, provided details of payments made by CBN to the company, emphasizing that Emefiele’s name had no links to the transactions. The third witness, Oluwole Owoeye, a Deputy Director at CBN, clarified that his committee was not involved in the vetting of bidding for the contracts that led to the charges against Emefiele.

The trial revealed that Emefiele’s name was not connected to the company’s ownership or financial transactions. Further proceedings are scheduled for January 18 and 19, 2023. Emefiele faces charges related to awarding vehicle supply contracts to April1616 Investment Ltd, a company where a CBN staff, Sa’adatu Ramallan Yaro, served as a director.


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