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Emefiele to be arraigned in Court Monday



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Godwin Emefiele, and ex-governor of the Central Bank of Nigeria, to be arraigned in court on Monday, April 8, 2024

The former CBN boss is facing charges with Henry Isioma Omole, his co-defendant, before the Ikeja State High Court in Lagos.

Emefiele is accused by the Economic and Financial Crimes Commission, EFCC, of abusing his office and allegedly overseeing the allocation of billions of United States dollars without adhering to proper procedures.

The anti-graft agency claims that Emefiele directed the allocation of $2,136,391,737.33 in foreign exchange between 2022 and 2023, with similar actions totaling $291,945,785.59 between 2020 and 2021 and $1,769,254,793.16 in 2021 alone, all without due process. These actions are reported to have adverse effects on Nigerian citizens.

Additionally, one of the counts implicates Omole, his co-defendant, who allegedly received $110,000 as a reward for Emefiele’s participation in facilitating foreign exchange allocation. These allegations have violated Section 73 of the Criminal Law of Lagos State, 2011.

The impending trial underscores the anti-graft agency’s efforts to combat financial impropriety and uphold accountability within Nigeria’s financial sector.



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