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More Revelations on Emefiele’s Fraudulent Contract Approvals

In an ongoing trial at the High Court of the Federal Capital Territory, former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, along with nine other officials of the apex bank, is accused of approving 45 multi-billion Naira contracts for various entities, including Emefiele’s wife, Margaret.

According to Agboro Omowera, an investigator with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Emefiele’s brother-in-law, Sa`adatu Ramallan Yaro, a staff member of the CBN, was also identified as a beneficiary of the contracts.

The 7th prosecution witness in the 20-count charges against Emefiele, Omowera, revealed that Yaro, a director at April 1616 Investment Ltd, received contracts for the supply of over 45 Toyota Hilux vehicles, ranging from N854,700,000 to N99,900,000. Additionally, Emefiele’s wife and brother-in-law were directors and major shareholders of Architecom Nigeria Ltd, a company contracted by the CBN to renovate the CBN governor’s residence in Ikoyi, Lagos State.

During the trial, Omowera, led by counsel for the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo, SAN, explained that Emefiele’s wife’s company began receiving patronage from the CBN after Emefiele assumed the position of CBN governor in 2014.

The investigator further detailed that a 20-man team, including representatives from various agencies such as the Department of State Services (DSS), conducted an extensive probe into the allegations of fraud against Emefiele. Their findings indicated that contracts for the supply of vehicles, renovation of the CBN governor’s residence, and provision of power lines were approved by Emefiele.

Under cross-examination, Emefiele’s lawyer questioned whether Emefiele personally benefited from the contracts, to which the witness replied in the negative, clarifying that the investigation focused on relatives and associates rather than Emefiele himself.

The trial is set to continue on April 25.

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