Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele has been released from Kuje Correctional Center after his lawyer tweaked his bail conditions.
His lawyer, Senior Nigerian Advocate Matthew Burka, confirmed this to Channels TV.
Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court granted bail in the sum of N300 million with two sureties of the same amount.
Emefiele is charged with six counts bordering on procurement fraud for securing procurement contracts for 43 vehicles valued at N1 during 2018 and attempting to benefit a CBN official, Saadatu Yaro. It was done. And 2020.
While on remand in Kuje, Emefiele was directed to leave all his travel documents with the court clerk and remain at the Abuja Municipal Area Council (AMAC).
His trial over the alleged vehicle procurement has already begun before Judge Hamza Mu’ath.
Road to Detention
Emefiele was first detained by the Department of State Services (DSS) in June after President Bola Tinubu suspended him from serving as CBN governor.
DSS spokesperson Peter Afunanya confirmed Emefiele’s arrest at the time, saying: “The Department of State Services (DSS) has confirmed that the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is currently present. I will make sure that.” He was taken into custody for investigative reasons.
“The public, especially the media, is urged to exercise extreme caution in reporting and reporting on this issue.”
After his arrest, Emefiele went to the FCT High Court in Abuja to challenge his detention by the DSS. .
In delivering his verdict on Emefiele’s fundamental rights appeal, Judge Hamza Mu’ath gave the DSS a one-week ultimatum to bring him to court or release him.
Charges of illegal possession of firearms
In July, the federal government filed two charges of illegal possession of firearms and ammunition against Emefiele in a federal court in Lagos.
He was charged with unauthorized possession of a single shotgun (JOJEFF MAGNUM 8371).
The Government argued that this offense violated section 4 of the Federal Law Cap F28 Firearms Act 2004 and was punishable under section 27(1b) of that Act.
In the second count, the suspended CBN governor is accused of possessing 123 live ammunition (cartridges) without a permit, in violation of Section 8 of the Federal Firearms Act Cap F28 of 2004; Punishable under Article 27 (1). )(b)(il) of the same Act.
However, on August 17, the Federal High Court in Lagos quashed the “illegal possession of weapons” charge against Emefiele after the Ministry of Justice filed a motion seeking its withdrawal.
Justice Nicholas Oweigbo dismissed the charges, stating that the prosecution had the legal authority to drop charges against the defendant at any stage of the trial. 4,444 people indicted over N1.6 billion fraud
After dropping the illegal weapons possession case against Emefiele, the federal government indicted him in November on six charges that were similar to procurement charges.
The original indictment included 20 counts totaling N6.5 billion, which was reduced to six counts totaling N1.6 billion, with Emefiele the only defendant in the new indictment.
However, after the six charges were read to him, he pleaded not guilty.
300 million naira bail granted
Justice Hamza Muazu of the Federal Capital Territory Abuja High Court on November 22 granted Emefiele bail of 300 million naira and two sureties in the same amount.
The guarantor must have a certificate of occupancy and ownership of real estate in the Maitama area.
He was also ordered to leave all his travel documents with the court clerk and remain at the Abuja City Council.
He remained at Kuje Correctional Center until he cleared his bail conditions on Friday.
New charges
However, after more than four months of investigation by the Central Bank of Nigeria’s special prosecutor, Jim Obazie, new charges have emerged against Emefiele, and his release is on the horizon.
Obazu accused Emefiele and others of embezzling billions of naira and committing other serious financial crimes.
According to a report in the online newspaper Premium Times, Mr Obazie’s findings and recommendations were included in a report submitted to President Bola Tinubu on December 9, 2023.
The investigation results show that Mr. Emefiele, who was in office from June 2014 to June 2023, was involved in “unauthorized cash withdrawals worth US$6.23 million” and committed a naira redesign fraud. This includes £543.4m of the total held in the UK.
Online newspaper Premium Times, which viewed a copy of Mr. Obazie’s petition to President Tinubu, also reported that Mr. Emefiele manipulated exchange rates, fraudulently extracted N26.6 trillion and launched a fraudulent intervention program. Among other things, he made fraudulent spending related to the coronavirus and manipulated the president’s support.
As a result, Mr. Obazee recommended that Mr. Emefiele and others, including the deputy governor, be prosecuted for financial crimes.
Commenting on the controversial Naira restructuring that ultimately led to severe Naira shortage and created hardship for millions of Nigerians, Obaji said the process was in violation of the CBN Act. He was quoted as saying that the redesign was neither recommended by the CBN board nor approved by then President Muhammadu Buhari “contrary to the provisions of section 19(1) of the CBN Act 2007”. The Times further said that Obaji said the Naira redesign was “a conspiracy against the Nigerian people, especially the political class…” and “indeed, it was designed to frustrate the political class and make their electoral agenda very difficult. He added that he had done so. It happened to be a great punishment for Nigerians and the Nigerian economy.
The former CBN governor has been in custody since his June arrest by the DSS after his ouster. He is currently facing the Economic and Financial Crimes Commission for committing a N1.2 billion procurement fraud. The trial began on November 29, 2023, days before Mr. Obazie submitted his investigation report to Mr. Tinubu.
Emefiele and his legal team have yet to respond to the latest allegations. However, the former CBN governor and his legal team have denied any wrongdoing over the previous allegations.
