Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele is currently facing trial on fraud and corruption charges, with allegations of awarding 45 contracts worth billions of naira to family members and associates. The prosecution witness, Agboro Michael, detailed how these contracts were awarded to companies owned by Mr Emefiele’s wife, Margaret Emefiele, and his associates, including Sa’adatu Ramalan Yero.

The witness revealed that the contracts included supplying Toyota vehicles, despite some companies not being accredited by Toyota. The investigation conducted by a team of agencies, including the ICPC, EFCC, CCB, and SSS, showed that these contracts were awarded to confer corrupt advantages on the beneficiaries.

Mr Emefiele, who served as the CBN governor for nearly a decade, is facing charges of conferment of corrupt advantages, conspiracy, criminal breach of trust, forgery, and obtaining by false pretense. He has denied the charges and is currently on trial at the Federal Capital Territory (FCT) High Court in Abuja.

The contracts awarded to the companies ranged from supplying vehicles to house renovations, with payments approved by Mr Emefiele himself. The witness highlighted various payments made for the contracts, including the supply of Toyota vehicles and renovation of the CBN governor’s residence.

During cross-examination, the defence counsel questioned why only Mr Emefiele was being prosecuted when many others had signed the memos. The witness explained that Mr Emefiele was the approving authority, while others only minuted on the documents. The defence also inquired about the CBN’s contract award procedure, which the witness confirmed had passed through the statutory bodies at the bank.

The trial is set to continue on 25 April, with further hearings expected to shed light on the allegations against Mr Emefiele. Stay tuned for more updates on this high-profile case.