N6.9bn fraud: Emefiele, 2 others to be arraigned on Thursday

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By Racheal Ayodele

Suspended Central Bank Governor Godwin Emefiele will be arraigned by the Federal Government before the Federal High Court in Abuja on Thursday over a fresh 20-count charge bordering on procurement fraud.

Emefiele will be arraigned over N6.9 billion procurement fraud, conspiracy, and conferring corrupt advantages on his associates, alongside a female CBN employee, Sa’adatu Yaro, and her company, April 1616 Investment Limited.

The fresh charge comes 24 hours after the federal government announced its withdrawal of the “illegal possession of firearms” charge against him before the Federal High Court in Lagos on Tuesday.

Emefiele is accused of conferring corrupt advantages on Yaro, a director in April 1616 Investment Ltd., an offence contrary to Section 19 of the Corrupt Practises and Other Related Offences Act 2000, which is punishable with five years imprisonment without the option of a fine.

The accused persons were alleged to have bought 98 exotic vehicles and armoured buses valued at N6.9 billion, including 84 Toyota Hilux, three Toyota Landcruisers, one Toyota Avalon, and 10 armoured Mercedes Benz buses, between 2018 and 2020.

DAILY POST reports that the suspended CBN governor has been in detention since his suspension by President Bola Tinubu on June 9.

He was arraigned for alleged possession of illegal firearms before the Federal High Court in Lagos.

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