Court Orders Final Forfeiture Of N12.18b Property Linked To Godwin Emefiele

The court has decreed the permanent forfeiture of a property valued at N12.18 billion associated with former CBN Governor, Mr. Godwin Emefiele. Justice Chukwujekwu Aneke granted the ultimate forfeiture order following a court session where the Economic and Financial Crimes Commission (EFCC), represented by lawyer Chineye Okezie, presented and discussed a motion. The properties, situated in highly sought-after locations within the Federal Capital Territory (FCT) of Abuja, were included in two separate listings. Justice Aneke directed the EFCC to publish the interim forfeiture order in a national newspaper to give all concerned parties the opportunity to challenge the final order. On June 21, when the court resumed proceedings, there were no parties present to contest the temporary order. After carefully examining a detailed 41-paragraph affidavit presented by EFCC Investigating Officer Michael John Idoko, along with the 19 accompanying exhibits and a written address signed by Okezie, Justice Aneke approved the application. The judge said, “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: a final forfeiture order is made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A, which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”

Emefiele’s trial: Buhari’s approval for Naira redesign tendered as exhibit

The approval of former President Muhammadu Buhari for the re-design of Nigeria’s currency, the Naira, was on Tuesday tendered and admitted as exhibit before the High Court of the Federal Capital Territory (FCT) in Abuja. The approval dated October 6, 2022 from the State House and personally signed by the former President was conveyed to the Central Bank of Nigeria (CBN) under Godwin Emefiele as governor to proceed with the project of redesigning and printing of the currency. The Chief of Staff to President Buhari was said to have transmitted the written Presidential approval to the CBN. Also tendered and admitted as exhibits are samples of the re-design currency as approved by Buhari. The documents were tendered by the Economic and Financial Crimes Commission (EFCC) through its witness and former Director of Currency Operations at the Central Bank of Nigeria (CBN), Mr Ahmed Bello Umar. The witness was led in evidence by EFCC’S lead counsel, Mr Rotimi Oyedepo, a Senior Advocate of Nigeria, SAN. Umar who claimed to have authored some memos in relation to the project, however revealed that Emefiele partly departed from the approval of the former President. Among others, the witness said that while the portraits in the samples endorsed by Buhari were on the right side, those printed have the portraits on the left side. The former Director of Currency Operations at the CBN also claimed that the numbering styles for the currency adopted by Emefiele were different from the modes adopted by CBN under Emefiele. Similarly, the witness said that while the approved samples have QR code, those printed did not have the features. Under cross examination by Mahmoud Magaji, SAN, counsel to Emefiele, the witness admitted that Buhari actually approved the Naira redesign project. He also admitted that Buhari on December 29, 2023 publicly launched the re-designed Naira currency for the use of Nigerians as legal tender. The witness also admitted that the re-designed currency has his own signature as Director of Currency Operations adding that no currency becomes legal tender without his own signature. The EFCC had on May 15, 2024 arraigned Emefiele on a four count charge before Justice Maryanne Anenih of the FCT High Court sitting in Maitama, Abuja. Emefiele however denied the charge and was admitted to bail in the sum of N300 million. In the four count charge, the anti-graft agency claimed that Emefiele embarked on the Naira redesign without the approval of the Board of the CBN as well as then President, Muhammadu Buhari. Specifically, the EFCC accused Emefiele of approving the printing of various quantities of the new Naira notes “without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence”. While in count one he was accused of approving the printing of 375,520,000 notes at the cost of N11 billion, in count two he was accused of approving the printing of 172 million coloured swapped N500 notes at the cost of N4.4 billion. Also in count three, the former CBN boss was alleged to have approved for printing 137,070, pieces of coloured N200 notes at the cost of N3.4 billion. He was, in count four, alleged to have withdrawn the sum of N124, 860, 227, from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly.

JUST IN: EFCC arraigns Emefiele for printing N684m notes with N18.96bn

The Economic and Financial Crimes Commission (EFCC), on Wednesday, arraigned a former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele for approving the printing of N684.5 million at the rate of N18.96 billion. Emefiele was arraigned before Maryann Anenih, judge of a federal capital territory (FCT) high court, and pleaded not guilty to all the counts. In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari. The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

Emefiele arrives in Lagos court for arraignment over alleged fraud

The embattled former governor of the Central Bank of Nigeria, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for his arraignment over alleged abuse of office and allocation of billions of dollars. Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning. In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos. The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

More Troubles for Emefiele as FG amends charges

Fresh troubles appear to be in the offing for former Governor of the Central Bank of Nigeria CBN, Godwin Ifeanyi Emefiele as the Federal Government again amended the charges against him on offences allegedly committed while in office. The earlier charges have been increased from six to 20, bordering on forgery, conferring of corrupt advantage, and criminal breach of trust among others. The Federal Government had initially filed 19 charges against the former CBN governor bordering on N6.9bn procurement fraud but pruned it down to six to the tune of N1.2bn which he is currently standing trial on. In the amended charge, Emefiele was accused of obtaining the sum of $6.2m by pretence by falsely representing the Secretary to the Government of the Federation. The government said the offence was contrary to section 1(1) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and punishable under section 1(3) of the same Act. The charge read, “That you, Godwin Ifeanyi Emefiele male, adult, and Odoh, Eric Ocheme (Still at large) on or about the 8th day of February 2023 in Abuja, within the jurisdiction of this Honourable Court knowingly obtained by false pretence, the sum of Six Million, Two Hundred and Thirty Thousand United State Dollar ($6,230,000.00) by falsely representing that the Secretary to the Government of the Federation vide a letter dated 26th January, 2023 with Ref No. SGF.43/L.01/201 requested the Central Bank of Nigeria to provide a contingent logistic advance in the sum of $6,230,000.00 “in line with Mr. President’s directive” which representation you knew to be false and you thereby committed an offence.” He was also accused of conniving with one Eric Ocheme who has been at large to commit forgery. The government said the offence was contrary to section 96 (1) and punishable under section 364 of the Penal Code Law, Cap 89 Laws Federation, 1990. It read, “That you, Godwin Ifeanyi Emefiele male, adult, and Odoh, Eric Ocheme (Still at large) sometime in January 2023 in Abuja, within the jurisdiction of this Honourable Court agreed amongst yourselves to cause to be done an illegal act to wit: forgery of a document titled: RE: PRESIDENTIAL DIRECTIVE ON FOREIGN ELECTION OBSERVER MISSIONS dated 26 January 2023 with Ref No. SGF.43/L.01/201 and you thereby committed an offence.” Emefiele was also accused of conferring corrupt advantage on his wife Omoile Margret and Brother In-law Omoile Macombo by awarding a contract for the renovation of a portion of the CBN Governor’s residence in Lagos to the tune of N99.8m. The government said the offence was contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000. The charge read, “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in March 2020 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 your wife, Omoile Margret, and brother-in-law Omoile Macombo by awarding a contract for the external renovation of the CBN Governor’s Residence lying, being and situate at No. 2 Glover Road, Ikoyi, Lagos in the sum of 99,826,452.47 to Messrs. Architekon Nigeria Limited, a company wherein the duo are directors and majority shareholders and you thereby committed an offence. ” Emefiele’s counsel, Mathew Bukka, SAN, pleaded with the court for time, adding that the amended charge was served on them on Wednesday. The trial judge, Justice Hamza Muazu, adjourned the matter till Friday January 19, for fresh plea of Emefiele to be taken in the new charges.

Court Grants Emefiele N300m Bail

Former Central Bank Governor, Mr. Godwin Emefiele, who is facing charges of financial impropriety and corruption, has been granted bail by Justice Hamza Muazu of the Federal Capital Territory High Court Abuja.  This recent bail, set at N300 million with two sureties in like sum, requires the sureties to possess certificates of occupancy within Abuja’s upscale Maitama District. Moreover, Emefiele must surrender his travel documents to the court registrar and remain within the Abuja Municipal Council as part of the bail conditions. This development follows a previous bail grant of N20 million by the Federal High Court in Lagos four months ago. The charges against Emefiele are linked to alleged irregularities and misconduct during his tenure as the Governor of the Central Bank of Nigeria (CBN). More details later…

Updated: Again, Court Remands Former CBN Gov, Emefiele in Kuje Prison

*Trial Commences November 28 Justice Hamza Muazu of the Federal Capital Territory (FCT) Maitama on Friday, remanded a former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, in Kuje Prison.  Emefiele will be at the correctional facility till November 22, pending the court’s determination of his bail application. The Economic and Financial Crimes Commission (EFCC) on Friday arraigned the Ex-CBN Boss on a six-count charge bordering on alleged money laundering and abuse of office. When the charges were read to him, Emefiele pleaded not guilty to all the charges. Sequel to his not guilty plea, his counsel, Matthew Burkaa (SAN) prayed the court to grant his client bail because he has suffered unduly, asking the court to use its discretion to grant him bail. “We have placed evidence before your Lordship that the defendant will not jump bail. But the plaintiff has not given sufficient evidence that he would jump bail. We urge your Lordship to grant him bail,” he argued.  Responding, counsel to the EFCC, Rotimi Oyedepo (SAN), told the court to refuse him bail as he would jump bail. In his ruling, Justice Muazu said the ex-CBN Governor should be remanded in Kuje Correctional Centre till  November 22 for the determination of his application for bail. Meanwhile, November 28 has been fixed for the commencement of his trial. Emefiele will also appear before Justice Olukayode Adeniyi of the same FCT High Court for a  fundamental human rights enforcement suit, having been illegally detained for 151 days. 

151 Days After Unlawful Detention, Court Grants Emefiele Bail 

The High Court of the Federal Capital Territory, Maitama, on Wednesday admitted the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele to conditional bail after 151 days in detention. Justice Olukayode Adegbola Adeniyi held that Emefiele had stayed in government security custody beyond the time stipulated by law. The Judge also predicated his decision on the fact that the Federal Government had completed investigation into the allegations against the former CBN Chief and had even prepared the charged against him as far as August this year. On the bail conditions, the court held that Emefiele must be released to his Senior lawyer Matthew Burkaa SAN who must produce him any day the Federal Government chooses to arraign him. Emefilele is also to deposit his travelling passport with the Registrar of the Court pending his formal arraignment. In a ruling on the application for bail argued by Mathew Burkaa, SAN, Justice Adeniyi held that it is in the best interest of justice and fair play especially the provision of section 35 of Nigeria’s Constitution to follow the rule of law. The Judge specifically said that there must be an end to detention without trial by the federal holiday. Both the FG, and AGF re-presented by Oyin Koleoso had strongly objected to Emefiele’ s request for bail on the ground that he would interfere with the November 15 arraignment but did not tell the court how the interference would be done. EFCC on its part through its counsel, Farouk Abudalla insisted that Emefiele had not spent three months in its own custody and urged the Court to refuse the bail request. Counsel to the applicant however punctured the opposition of the Federal Government adding that the claim of likelihood of interference in arraignment was speculative because his client was not declared a flight risk. He told Justice Ademiyi to disregard the claim of EFCC that Emefiele was brought to its custody only October 26. The Senior lawyer informed the Court that the former CBN boss was investigated by a team of inter Ministerial Investigators from EFCC, Police and Department of the State Security Service DSSS which jointly constituted government agency.

Court Order: EFCC Cringes, Produces Godwin Emefiele

The Economic and Financial Crimes Commission (EFCC) in Abuja complied with the High Court of the Federal Capital Territory’s order regarding the case of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. After being held in custody by Federal Government security agencies for over 150 days, Emefiele was brought to court in accordance with the order issued by Justice Olukayode Adeniyi. Former CBN Governor Emefiele, dressed in a yellow Babariga and a Hausa cap, entered the courtroom at around 12:30, accompanied by a group of EFCC operatives providing security. Outside the court premises, Emefiele’s friends and relatives eagerly awaited the Judge’s arrival for a hearing in his fundamental human rights case. Justice Adeniyi reaffirmed his order on Monday, which mandated that the detained former CBN governor be brought to court on November 8.  This hearing’s purpose is to consider granting him bail.  The court also emphasized the option for the anti-graft agency to grant bail to Emefiele in accordance with the law on fundamental human rights.

Exclusive: ABP Failure: FG, RIFAN Initiate Nationwide Loan Recovery Drive

*Orders formation of loan recovery taskforce nationwide In the wake of the Federal Government’s recent threat to recover loans issued to Nigerians during the previous administration, the Rice Farmers Association of Nigeria (RIFAN) has taken swift action by issuing a directive to its members nationwide to reclaim loans disbursed to farmers during the 2018-2021 cropping seasons under the Anchor Borrowers’ Program (ABP). At inception in late 2015, the Central Bank of Nigeria (CBN) had said the programme thrust of the ABP is the provision of farm inputs in kind and cash (for farm labour) to smallholder farmers to boost production of these commodities, stabilise inputs supply to agro-processors and address the country’s negative balance of payments on food. By 2022, at least 4.8 million people had benefitted from the Anchor Borrowers Programme, authorities said at the unveiling of stacked paddy rice pyramids produced by rice farmers under the ABP initiative. While some beneficiaries have cited insecurity, flooding, climate change and crop failure as reasons for their inability to repay the loans, government officials have said that while the farmers’ reasons are somewhat valid, many of the farmers saw the loans as ‘their share of the national cake’ which do not need to be repaid. But the programme has been marred by loan default, even as food prices rose significantly within the years it took effect. There are also reports that several farmers collected the loan to travel to Hajj or married additional wives from the proceeds of the Anchor Borrowers Programme. This, among other reasons, is why authorities resolved to take legal action. “We find it very difficult to recover this loan,” Sahabi Augie, the immediate past Chairman of the Kebbi State chapter of the Rice Farmer Association of Nigeria (RIFAN), had said. In a recent report on Nigeria, the International Monetary Fund (IMF) said that only 24% of loans under the ABP had been repaid. The CBN, however, disagreed with the IMF, saying N503 billion of loans under the ABP had been repaid. This figure represents 52.39% of the total loans collected by farmers under the programme, according to the bank. But a recent statement from CBN’s corporate communications department restated that only 48 per cent of the loan has not been repaid. The CBN said it released N1.079 trillion under the programme, out of which over N500 billion is due for repayment. Interestingly, the All Farmers’ Association of Nigeria (AFAN) seemed to tilt towards the IMF when, in December 2022, it said the CBN was having difficulties recovering the loans because most beneficiaries of the ABP were not Nigerian farmers. Experts believe the failure of farmers who benefitted from the ABP to repay more than N500 billion extended to them by the CBN underscores a weakness in the initiative. However, the critical decision to set up a taskforce and recover the loans by all means is following a high-level executive meeting between RIFAN and the Department of State Security (DSS) on August 29, 2023. During the meeting, the recovery of loans issued to rice farmers between 2018 and 2021 was discussed extensively, leading to the issuance of a directive by RIFAN’s top leadership. In the confidential memo addressed to RIFAN members, which was leaked to the NIGERIAN ANCHOR, Aminu Mohammed Goronyo, the National President of RIFAN, and Chief Livinus Ngwangwa, the National Secretary, provided detailed instructions on how the loan recovery process should proceed: “Immediate Loan Recovery: All loans disbursed to beneficiary farmers from 2018 to the present date must be swiftly and effectively recovered. Farmers are given the flexibility to repay in either cash or paddy. “Loan Repayment Account: Beneficiary farmers are required to channel their loan repayments to the designated loan recovery account: Account Name: RIFAN 2020/2021 Wet Season; Account Number: 0054122612; Bank: Unity Bank PLC. “Documentation: Farmers are mandated to ensure that copies of their loan repayment records are sent promptly to RIFAN Headquarters. This documentation process is essential for maintaining accurate records. “Recovery Task Force: RIFAN state chapters have been instructed to establish a dedicated recovery task force without delay. These task forces will work in close collaboration with law enforcement agencies, including the police, Department of State Security (DSS), Nigerian Civil Defense, and local traditional rulers, to oversee and facilitate the loan recovery process,” the memo instructed. Beneficiary farmers were encouraged to fully cooperate with their respective RIFAN state chapters to facilitate the successful recovery of loans in adherence to the provided directives. For additional information and updates, beneficiaries are advised to contact their local RIFAN chapter or visit the RIFAN website. RIFAN Contact Information: Website: www.rifan.ng, Email: info@rifan.ng. The Rice Farmers Association of Nigeria (RIFAN) is a prominent agricultural organization dedicated to supporting and advancing rice farming in Nigeria. RIFAN plays a pivotal role in facilitating the Anchor Borrowers’ Program (ABP) to empower rice farmers and enhance food security in Nigeria.