Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), was placed under remand at Kuje Correctional Center yesterday by a federal Capital Territory (FCT) High Court, located in Maitama, Abuja, until his bail application was decided.
After Emefiele was arraigned and entered a not guilty plea to a six-count revised charge presented against him by the Economic and Financial Crimes Commission (EFCC), Justice Hamza Muazu issued the decision.
After hearing arguments on Emefiele's bail application, Justice Muazu postponed making a decision until November 22 and starting the trial on November 28.
The initial 20-count accusation against the former governor of the CBN verged on N6.5 billion in procurement fraud. He was then charged with a crime alongside a woman named Sa'adatu Yaro and a business that April 1616 Investment Limited was said to be associated with. He is the only defendant on the new six-count allegation, which also involves procurement fraud of N1.6 billion.
After the six-count charge was read to him, the former CBN governor entered a not guilty plea when he appeared in court yesterday to request bail.
According to the Federal Government, Emefiele fraudulently purchased 43 automobiles for N1.2 billion between 2018 and 2020. Additionally, he was charged with giving a contract of N854 million to buy 37 Toyota Hilux vehicles.
The first count stated: "That sometime in 2018 within the jurisdiction of this Honourable Court, you, Godwin Ifeanyi Emefiele, male, adult, did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa'adatu Ramallan Yaro, a staff member of the Central Bank of Nigeria by awarding a contract for the supply of 37 Toyota Hilux Vehicles at the cost of N854,700,000 only to April 1616 Investment Ltd, a company in which the aforementioned Sa'adatu Ramallan Yaro is a director.