Alleged N1.2 Billion Fraud: Federal govt begins Emefiele's trial

Godwin Ifeanyi Emefiele, the former governor of the Central Bank of Nigeria (CBN), is on trial. Three witnesses will testify against him at the Federal Capital Territory (FCT) High Court in Abuja tomorrow.

The Economic and Financial Crimes Commission (EFCC) is trying him on six counts related to allegedly violating the procurement process when awarding the contract to April1616 Investment Limited. 

The first prosecution witness cleared Emefiele in the purported N1.2 billion vehicle supply contract at the start of the trial. A high ranking official of the Corporate Affairs Commission (CAC), Shamsudeen Abulili, testified about the company's incorporation on August 1, 2016, and presented various documents pertaining to its history.  

He announced the names of the shareholders, which included Saadatu Ramalan Yaro, Maryam Aliyu Abdullahi, and Aminu Idris Yaro.  Insisting that Emefiele's name had no connection to the company, Abulili submitted documents proving the firm's incorporation date of August 1, 2016, with EFCC attorney Rotimi Oyedepo (SAN) leading the way in testimony.

The witness clarified that while the CAC was in charge of the company's incorporation, it was not involved in the day-to-day operations of the organisation. 

The second witness, Remigious Ugwu, a Zenith Bank Compliance Officer, described how the top bank made payments to April1616 Investment Limited totalling millions of naira. 

Specifically, he told Justice Hamza Muazu that on October 19, 2020, N39, 060, 465 was remitted, another N421, 953, 488 dispatched on November 6, 2020, and third of N304, 883, 720 paid on November 23, 2020, to same company by CBN.  

In a similar vein, he claimed that N304, 883, 720 was released on January 1, 2021, and that Apex Bank paid N304, 883, 720 to the same company on March 23, 2021. But he acknowledged that Emefiele's name had nothing to do with any of the payments.

 The third witness, Oluwole Owoeye, a former secretary to the financial institution's Major Contract Tendering Committee (MCTC) and Deputy Director of Banking Services at the CBN, stated that his organisation was in charge of making sure that current procurement laws were followed.

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