The Federal Capital Territory High Court in Maitama initiated a comprehensive hearing on Tuesday regarding the Economic and Financial Crimes Commission’s (EFCC) case against Godwin Emefiele.
The initial witness, Samsudeen Romanus, during his Evidence-in-Chief, affirmed to the court that the beleaguered former head of the apex bank had no ownership or shareholding in April1616 Investment Limited. This firm was accused by the anti-graft agency of unlawfully securing contracts, a claim refuted by the Defendant.
As the first witness (PW-1), Romanus, a prominent Corporate Affairs Commission (CAC) official, was summoned by the EFCC to provide testimony. Guided by EFCC’s legal representative, Rotimi Oyedepo, SAN, the witness publicly disclosed the names of all shareholders in the company. Notably, the joint owners included Aminu Idris Yaro, Maryam Aliyu Abdullahi, and Saadatu Ramalan Yaro.
Romanus submitted various documents illustrating the company’s incorporation on August 1, 2016, emphasizing that Emefiele’s name was absent from any of the ownership documents. He clarified that while the CAC handled the incorporation process, it did not participate in the day-to-day operations of the entity.
Following his testimony, the second witness, Remigious Ugwu, a Compliance Officer at Zenith Bank Plc, detailed before the court the sequence of monetary transactions into the account of April1616 Investment Limited by the Central Bank of Nigeria (CBN).
Ugwu informed the court that on October 19, 2020, a sum of N39,060,465 was deposited into the firm’s account, followed by another N421,953,488 on November 6, 2020, and a third sum of N304,883,720 on November 23, 2020, all originating from the CBN.
The witness explicitly stated that none of these payments were linked to Emefiele’s name, asserting that he had no knowledge of the purpose behind these transactions. Additionally, Ugwu clarified that the former CBN governor was not a signatory to the bank account of April1616 Investment Limited.
As the second witness (PW-2), Ugwu submitted various documents on behalf of the bank to support his testimony, reinforcing the assertion that Emefiele had no direct involvement in the financial operations of the said company.
Similarly, the third witness, Oluwole Owoeye, a Deputy Director, Banking Services with CBN and former Secretary to Major Contract Tendering Committee MCTC of the CBN, said that his organization was responsible for ensuring contracts awarded by the apex bank, complied with the Procurement Act.
Owoeye told the court that his Committee was not involved in the vetting of bidding for the award of contracts that led to the prosecution of Emefiele.
The PW-3 explained that another committee handled the bidding process for the contracts since it was above the threshold that his Committee could handle.
“My Lord, all I know, which is through our records, is that contracts for award of vehicle supplies were awarded to April1616, but I cannot say whether the contracts were executed or paid for because my Committee played no role,” he added.
He told the court that MCTC and Procurement Department were fully functional while Emefiele held sway as CBN governor.
Meanwhile, Trial Justice Hamza Muazu has postponed further proceedings in the case until January 18 and 19, 2024.
Recall that on November 22, the court granted bail to the former CBN governor in the sum of N300 million. However, nearly a week after the court’s ruling, Emefiele had not fulfilled his bail conditions, and he attended his trial on Tuesday from the Kuje Correctional Center.
As part of the bail conditions, the court required Emefiele to produce two sureties who must be residents within the FCT Abuja and possess landed property within the Maitama District valued at the bail sum.
Justice Muazu expressed his inclination to grant the bail application filed by Emefiele through his legal team, led by Mr. Mathew Burkaa, SAN.
Earlier, the court had instructed Emefiele to surrender all his travel documents. On November 17, the former CBN governor pleaded not guilty to the charges brought against him by the anti-graft agency. The case revolves around allegations of procurement fraud, to which Emefiele has consistently maintained his innocence.
Specifically, Emefiele was, in the amended charge marked CR/577/2023, accused of complicity in a procurement fraud that was to the tune of about N1.2billion.
Though the initial charge the EFCC filed against him contained 20 counts and had a female CBN employee, Sa’adatu Yaro and her company, April 1616 Investment, as defendants, only Emefiele was listed as a defendant in the amended charge.
The prosecuting agency alleged that the former CBN governor illegally bought 43 vehicles between 2018 and 2020, worth N1.2bn.
He was further accused of giving a corrupt advantage to Yaro by awarding her a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854m.
One of the counts in the charge read: “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in 2018 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 Sa’adatu Ramallan Yaro, a staff of the Central Bank of Nigeria by awarding a contract for the supply of 37 Toyota Hilux Vehicles at the cost of N854,700,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”
President Bola Tinubu had, on June 9, suspended Emefiele from office as the head of the apex bank.
The Department of State Services, DSS, later arrested him at his Lagos residence.
Emefiele had, since then, faced a two-count charge of illegal possession of a firearm and ammunition before the Federal High Court in Lagos, as well as a 20-count corruption charge.
Proceedings in both cases were put on hold following the Defendants’ decision to explore a plea bargain deal with FG.
The former CBN boss was later transferred to the EFCC detention facility on October 26, by the DSS.
After filing a fundamental right enforcement suit through his legal representatives, Justice Olukayode Adeniyi secured his prompt release from detention on November 8. He had been held in custody by security agencies for 151 days.
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