Travel News

A Federal High Court in Abuja has ordered the remand of Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), to Kuje Correctional facility pending the ruling on his bail application.

The Federal Government had arraigned the former bank chief on a six-count amended charge, accusing him of alleged procurement misconduct.

The original charge, which was 20 counts to the tune of N6.5 billion, was reduced to six, to the tune N1.6 billion.

Emefiele was arraigned before Justice Hamza Muazu on Friday due to the nationwide strike, which stalled his arraignment on Wednesday.

Mathew Burkaa, SAN, his counsel, had moved the application for his bail but Rotimi Oyedepo, counsel to the Economic and Financial Crimes Commission (EFCC), opposed it on behalf of the Federal Government.

After listening arguments, Justice Muazu said he needed a little time to study the exhibits supplied by Emefiele to support his request for bail.

He thereafter adjourned the case till November 22, 2023.

Emefiele’s travail began after President Bola Tinubu suspended him on June 9, 2023, and ordered a probe of the apex bank under his watch.

Tinubu later appointed a Special Investigator to probe CBN.

Amid this probe, the apex bank released its audited financial statement, which showed that it was owing JP Morgan and Goldman Sachs a combined sum of $7.5 billion as of the financial year ended December 2022.

After months in custody of the secret police, he was transferred to the EFCC, which arraigned him in court and he was granted bail.