The Economic and Financial Crimes Commission (EFCC) is set to arraign the former Governor of the Central Bank of Nigeria, Godwin Emefiele, on Monday, April 8, 2024. Emefiele, alongside his co-defendant Henry Isioma Omole, faces 26 counts of alleged abuse of office over the allocation of billions of United States dollars.
The arraignment is scheduled to take place at the Ikeja State High Court in Lagos before Justice Rahman Oshodi. The charges, filed by Mr. Rotimi Oyedepo (SAN) and marked ID/23787c/2024, allege that Emefiele committed abuse of office between 2022 and 2023 in Lagos.
The EFCC accuses Emefiele of directing arbitrary acts, specifically allocating foreign exchange totaling $2,136,391,737.33 without bids, which the commission claims prejudiced the rights of Nigerians. Additionally, Emefiele is alleged to have directed similar acts in 2020 and 2021, totaling $291,945,785.59 and $1,769,254,793.16, respectively.
Furthermore, the charge implicates Emefiele in a special allocation of foreign exchange amounting to $370,872,893.01. His co-defendant, Omole, is alleged to have accepted $110,000 in gifts as rewards for facilitating foreign exchange allocations by the Central Bank.
These actions, as per the EFCC, contravene Section 73 of the Criminal Law of Lagos State, 2011. The arraignment follows months of investigation, which concluded with the formal closure of the probe by President Bola Tinubu.
In a statement released on Friday, President Tinubu expressed gratitude to the Central Bank Investigator, Mr. Jim Obazee, for his service. The investigation, initiated on July 30, 2023, has led to the closure of all related activities and the submission of a final comprehensive report.
President Tinubu commended Obazee for his dedication and professionalism throughout the investigation, wishing him success in his future endeavors. With the investigation concluded, law enforcement and regulatory agencies are expected to undertake follow-up actions in line with the findings.
For Emefiele and Omole, the upcoming arraignment marks a significant development in a case that has drawn attention due to its implications for financial governance and accountability in Nigeria.