Suspended Central Bank Governor and Two Others to Face Charges for Alleged N6.9 Billion Luxury Vehicle Procurement Fraud, Nigerian Government Announces Arraignment

The Nigerian Government is set to bring charges against Godwin Emefiele, the suspended Central Bank Governor, along with two co-defendants in the Federal Capital Territory High Court. The charges, totaling 20 counts, relate to allegations of procurement fraud. 

The other individuals facing charges are Sa’adatu Yaro, a female employee of the Central Bank of Nigeria, and her company, April 1616 Investment Limited. The accusations involve a substantial procurement fraud amounting to N6.9 billion, encompassing allegations of conspiracy and the provision of corrupt advantages to associates.

This development comes shortly after a report from SaharaReporters, revealing that the Nigerian Government had applied to withdraw a case concerning the "illegal possession of firearms" against Emefiele in the Federal High Court in Lagos. Instead, new charges have been filed against him in an Abuja court. Mohammed Bakodo Abubakar, the Director of Public Prosecutions at the Federal Ministry of Justice, informed Justice Nicholas Oweibo that this decision was based on the outcome of further investigations.

The application for withdrawal faced opposition from the defense counsel, Joseph Daudu (SAN), who argued that due to the government's non-compliance with the court's bail order for Emefiele, their application should not be entertained. The court has scheduled a ruling on this matter for August 18.

It's worth noting that on July 25, the judge granted Emefiele bail in the amount of N20 million on charges related to the illegal possession of firearms and ammunition. This ruling mandated his detention at the Ikoyi Correctional Centre until bail conditions were met. However, the embattled bank chief was rearrested by the Department of State Services (DSS) after a confrontation with prison officials at the court's premises.

The latest charge sheet outlines that the three accused parties jointly purchased a fleet of 98 luxury vehicles and armored buses valued at approximately N6.9 billion. The vehicles, acquired between 2018 and 2020, consist of 84 Toyota Hilux trucks, 10 armored Mercedes Benz buses, three Toyota Land Cruisers, and one Toyota Avalon car.

One of the specific charges states that Godwin Ifeanyi Emefiele, Sa'adatu Ramallan Yaro, and April 1616 Investment Ltd conspired to exploit Emefiele's position as Governor of the Central Bank of Nigeria to provide Sa'adatu Ramallan Yaro, a Central Bank staff member, with a corrupt advantage. This was achieved by awarding a contract for the supply of a Toyota Land Cruiser V8 at a cost of N73,800,000 to April 1616 Investment Ltd in 2019.