Emefiele pleads not guilty to new fraud charges by EFCC

Godwin Emefiele, former governor of Central Bank of Nigeria on Monday pleaded not guilty to new allegations of foreign-currency infractions brought against him by one of the country’s finance watchdogs.

The former governor of CBN was arraigned at the Ikeja State High Court in Lagos after the Economic and Financial Crimes Commission (EFCC) filed fresh charges against him, including alleged fraudulent foreign exchange allocation of $2 billion.

Read also: Emefiele in Lagos court for arraignment on EFCC fresh fraud charges

Emefiele, alongside his co-defendant, one Henry Isioma Omole are to be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning.

In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos.

The alleged offences border on accepting gratification, accepting gifts through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantage on his associates contrary to the Corrupt Practices Act of 2000.

The EFCC in the fresh 26-count charge filed at the Lagos State High Court in Ikeja said Emefiele while being CBN governor arbitrarily allocated foreign exchange in the aggregate sum of $2 billion ($2,136,391,737.33) “without bids, which act is prejudicial to the rights of Nigerians”.

The commission said Emefiele allegedly committed the offences between 2022 and 2023, saying that the fresh charges were filed on April 3 by the EFCC prosecutor Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN).

Read also: Emefiele faces trial for alleged $2.14bn forex abuse in Lagos on Monday

Count one of the charge reads, “that you, GODWIN IFEANYI EMEFIELE between 2022 and 2023, in Lagos, directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 (Two Billion, One Hundred and thirty-six million, three hundred and ninety-one thousand, seven hundred and thirty-seven Dollars, thirty-three cents) without bids, which act is prejudicial to the rights of Nigerians.”