Ruling on bail application and possible trial of the embattled former Central Bank of Nigeria, CBN Governor Godwin Emefiele has been fixed for Thursday, April 11, 2024.
This is the ruling of Justice Rahman Oshodi of the Special Offences Court in Ikeja on Monday.
This follows the arraignment of Godwin Emefiele by the Economic and Financial Crimes Commission, EFCC and his subsequent remand in the EFCC custody, along with his co-defendant, Henry Omoile, who was ordered remanded in the Ikoyi Correctional facility.
Godwin Emefiele, Henry Omoile pleaded not guilty
Godwin Emefiele and Henry Omoile were docked before the court and pleaded not guilty to alledged allocation of foreign exchange in the sum of $4.5billion and N2.8 billion.
Emefiele was arraigned on an amended information of a 23-count charge by the EFCC, on alledged offences bordering on abuse of office, accepting gratification, accepting gifts through agents, corruption, and fraudulent property receipt.
EFCC accuses Godwin Emefiele of alleged $4.5bn, N2.8bn
EFCC in one of the charges stated that Emefiele abused the authority of his office as CBN Governor by allocating foreign exchange in the aggregate sum of 2.2 billion US dollars without bids, the act which was prejudiced to the rights of Nigerians.
It was also alleged that the former CBN governor corruptly accepted the aggregate sum of $26.5 million from NIPCO PLC through Donatone Limited of account of allocation of foreign exchange in favour of NIPCO by CBN.
The commission also accused Emefiele of receiving the sum of $400,000 from the Source Computer Limited on account of the approval of “contract” in favour of the said company by CBN, the institution wherein he served as the Governor.
The EFCC also alleged Emefiele used his position as the governor of CBN to confer a corrupt advance on his associate, Limelight Multidimensional Services Limited by approving payment of the aggregate sum of N900 million to the said company.
Emefiele was also alleged to have used his position as the CBN governor to confer a corrupt advantage on Comec Support Services Limited by approving the sum of N149 million to the company.
EFCC also alleged the former CBN governor used his position to confer a corrupt advantage on Andswin Resources and Solutions Limited by approving payment of the sum of N398 million to the company.
The commission also accused his co-defendant, Henry Omoile to have given the sum of $100,000 to the Governor as gift reward for allocation of foreign exchange.
According to the prosecution, the alleged offences violate Sections 8, 10, and 19 of the Corrupt Practices And Other Related Offences Act 2000, Sections 65, 73, and 328 of the Criminal Laws of Lagos State 2011.
At the arraignment, the Prosecution Counsel, Rotimi Oyedepo, SAN, informed the court that the first defendant, Godwin Emefiele was brought to court on an amended information.
The Defence Counsel to both defendants, Mr. Abdulhakeem Labi-Lawal acknowledged that he had received the amended information from the prosecution and that the defendants were served with the amended information and proof of evidence.
The charges were read to him and his alledged accomplice, and both pleaded not guilty.
While the first defendant pleaded not guilty to Counts one to four and 8 to 26, while the second stated that he was not guilty in respect 5 to 7.
Godwin Emefiele, not a flight risk -Lawyer
Following their plea, the defence counsel Mr. A. Labi- Lawal moved applications for the defendants bail.
According to Mr A. Labi-Lawal, “The first defendant is praying for an order admitting him to bail on self-recognisance pending the determination on the case.
Adding, “Alternatively, admit him to bail in the most liberal terms.”
The defendant premised his argument for bail on 21 grounds.
Labi-Lawal, in his 31 affidavits, said that the first defendant Godwin Emefiele had complied with the bail application which was granted him by Justice Hamza Mu’azu, of the Federal Capital Territory High Court, Maitama, Abuja in another alleged fraud trial case.
The defence counsel also said the charges were bailable offences and not a capital offence.
As he argued to get bail for his client, Justice Oshodi asked him, “Was the defendant granted bail by the prosecuting authority? He answered, “No.”
Arguing further that Emefiele be granted bail, he said that the court should take into consideration, the status of the first defendant as he was the former CBN governor of the country.
He said, “In the face of the charge, the applicant has said that he was a former CBN Governor, the number one banker in Nigeria.
“The defendant was arrested on June 10, 2023, he has taken to the officer of Department of State Service, he was transferred to EFCC.”
He said that the defendant presented himself after the prosecution called him on Thursday that they had two charges against him.
He told the judge that the defendant was the first person to enter the courtroom, stating that he showed his readiness to answer to the charge and that he is not a flight risk.
He also argued in respect of the second defendant, “Henry Omoile is seeking the court to admit him to bail.”
He urged the court to allow him bail on the most liberal terms.
Asking on his behalf that he should continue to enjoy the bail granted him by Honourable Justice Sule Amzat.
At the former banker’s arraignment, he was seen wiping sweats off his face with his white handkerchief because the court room was lacking power supply during the duration of the proceedings from 9:02 a.m till past 10 when it was concluded.
