The Economic and Financial Crimes Commission (EFCC) has announced that former Central Bank of Nigeria (CBN) Governor Godwin Emefiele would be charged in Lagos’ Ikeja State High Court on Monday, April 8, 2024. Emefiele and his co-defendant Henry Isioma Omole are charged with 26 counts of suspected abuse of office in connection with the allocation of billions of dollars in the United States.
Mr. Rotimi Oyedepo (SAN) filed the accusations, which bear the case number ID/23787c/2024, accusing Emefiele of abusing his authority in Lagos between 2022 and 2023. The EFCC contends that Emefiele directed the allocation of foreign exchange totaling $2,136,391,737.33 without appropriate bidding, which is considered harmful to Nigerians’ rights.
Emefiele is further accused of similar activities between 2020 and 2021, totaling $291,945,785.59, and in 2021, including a special distribution of foreign exchange worth $1,769,254,793.16. His co-defendant, Omole, is accused of accepting $110,000 in presents from Raja Punjab through Monday Osazuwa, reportedly as a reward for Emefiele’s acts.
The allegations are for violations of Section 73 of the Criminal Law of Lagos State, 2011, and are part of a larger investigation into suspected financial malfeasance during Emefiele’s tenure as CBN Governor.
The arraignment before Justice Rahman Oshodi is an important development in the continuing legal procedures, demonstrating the EFCC’s commitment to holding individuals accountable for alleged financial crimes. Emefiele’s legal team is anticipated to strongly oppose the charges as the matter moves forward in court.