Suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is reportedly seeking a plea bargain in the criminal suit filed against him by the Federal Government.
Recall that the suspended Emefiele is facing a 20-count charge over an alleged conspiracy to carry out procurement fraud, among others. He was charged alongside one Saadatu Yaro, an employee of the CBN, and a firm known as April1616 Investment Ltd.
The arraignment, which was initially scheduled for August 17, was stalled due to the absence of Saadatu Yaro, Emefieles co-accused. The case was then adjourned to August 23.
However, at the court session on Wednesday, neither Emefiele nor Yaro was present. The case was also not listed on the courts cause list.
According to sources, Emefiele is proposing a plea bargain agreement and the federal government is disposed to the arrangement. If an agreement is reached, Emefiele will, subsequently, resign as CBN governor and disgorge some assets.
By the provisions of the law, the president cannot remove Emefiele as central bank governor.
Section 11 of the Central Bank Act 2007 specifies the conditions upon which a CBN governor can be removed from office. Section 11(2) (f) empowers the president to terminate the appointment of a CBN governor. But, the removal of the governor shall be supported by two-thirds majority of the senate praying that he be so removed.
