News

FG Reduces Emefiele’s Alleged Procurement Fraud From N6.9bn To N1.2bn

ByKazeem Badmus

PublishedNovember 16, 2023

…Says Ex-CBN Gov Illegally Bought 43 Vehicles Between 2018 and 2020

The fraud charges filed by the Federal Government against the ex-governor of Central Bank of Nigeria, CBN, Godwin Emefiele have been reduced to six counts.

Also, the quantum of the alleged procurement fraud levelled against Emefiele was reduced from N6.9bn to N1.2bn.

Osun Defender gathered that the charges, bordering on alleged procurement, were originally 20 with the Federal Government alleging that the procurement fraud was to the tune of N6.5bn.

The original charges were first filed in August.

Emefiele was charged alongside a female CBN employee, Sa’adatu Yaro, and her company, April 1616 Investment.

In the amended charge sheet marked CR/577/2023, the charges still border on procurement fraud, but the counts have been reduced from 20 to six.

Also, Emefiele is the only defendant in the new charge.

The defendants had been scheduled to be arraigned on Wednesday, but the matter could not proceed due to the strike by the Nigeria Labour Congress and Trade Union Congress.

The Federal Government in the amended charge sheet, alleged that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2bn.

The former CBN governor was accused of giving a corrupt advantage to Yaro by awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854m.

Count one read, “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in 2018 within the jurisdiction of this Honourable Court did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa’adatu Ramallan Yaro, a staff 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 April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”

In the second count, Emefiele was accused of using his position to corruptly confer an advantage on Yaro, “a staff of the Central Bank of Nigeria by awarding a contract for the supply of one Toyota Avalon at the cost of N99,900,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro Director and thereby committed an offence.”

He was also accused of conferring corrupt advantage contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000 by awarding a contract for the supply of one Toyota Landcruiser V8 April1616 Investment Ltd., in 2019 at the cost of N73m.

The fourth count was about a Toyota Landcruiser V8 valued N73,800,000 awarded illegally to April 1616 Investment Ltd.

The FG further accused the former CBN governor of also awarding a contract to Yaro for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44,200,000 in 2020.

Kazeem Badmus

Kazeem Badmus is a graduate of Mass Communication with years of experience. A professional in journalism and media writing, Kazeem prioritses accuracy and factual reportage of issues. He is also a dexterous finder of the truth with conscious delivery of unbiased and development oriented stories.