Tag: Godwin Emefiele

Emefiele Social Programmes: ‘Over N530bn CBN funds withheld by banks’

Aminu Imam
Emefiele funds

…Cardoso may order refund Nine major Nigerian banks are sitting on over N530 billion in unused Central Bank of Nigeria (CBN) intervention funds, despite the suspension of all CBN intervention programs by the current governor, Olayemi Cardoso. Since assuming office, Cardoso halted all development finance interventions, aiming to refocus the CBN’s efforts on its core mandate and limit its involvement in direct development financing. Under the previous administration, led by Godwin Emefiele, the CBN delved into various intervention programs, disbursing over N9.71 trillion in development finance. However, a recent investigation…

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Lagos court grants CBN gov., Emefiele N50m bail

Aminu Imam
Emefiele employee

The embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has been granted bail in the sum of N50m after being charged with a 26-count bordering on alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion respectively. Emefiele was admitted to bail with two sureties in like sum by Justice Rahmon Oshodi yesterday. The  former CBN governor is facing trial in Lagos on a 26-count charge bordering on abuse of office. Oshodi ordered the sureties must be gainfully employed and must have made three years tax…

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Alleged Fraud: “How I collected $3m cash for Emefiele” – CBN employee

Aminu Imam
202681 4980d901205eaaedd99ce26ad139fdd1

A Central Bank of Nigeria (CBN) employee, Monday Osazuwa, yesterday, told an Ikeja Special Offences Court how the former apex bank governor, Godwin Emefiele, on different occasions, directed him to collect three million dollars cash in tranches. Osasuwa, while being led in evidence by the Economic and Financial Crimes Commission (EFCC) counsel, Rotimi Oyedepo (SAN), said he was a dispatch rider in Zenith Bank in 2001 before he joined the CBN in 2014. Osasuwa said he joined the apex bank as a senior supervisor in 2014. The witness said Emefiele…

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CBN Probe: ?Court remands Emefiele in EFCC custody

Aminu Imam
Emefiele remand

Justice Rahman Oshodi, of the Lagos State Special Offences Court, Ikeja, yesterday remanded the immediate-past Governor of the Central Bank of Nigeria, (CBN), Godwin Emefiele, in the custody of the Economic and Financial Crimes Commission (EFCC). He will remain behind bars until Thursday, when the Judge will determine his bail application. Justice Oshodi made the decision after Emefiele and his co-defendant, Herry Omoile, pleaded not guilty to a fresh 26-count charge bordering on abuse of office brought against his by EFCC. The Judge, however, remanded Omoile in the custody of…

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Alleged N6.2m Emefiele Loot: Top INEC, Presidency officials indicted

Aminu Imam

…Pressure mounts on Tinubu to sack Obazee A recent investigation has implicated high-ranking officials from the Independent National Electoral Commission, (INEC), and the Presidency, including former President Muhammadu Buhari’s cabinet members, in the alleged distribution of a $6.2 million windfall by former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. The funds were reportedly withdrawn from the CBN vault under the guise of mobilising international observers for the 2023 general elections, with beneficiaries allegedly extending to the State House and the Office of the Secretary to the Government of the…

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Naira Redesign: “Why I didn’t sack ex-CBN Gov. Emefiele” — Buhari

Aminu Imam

… Says he kept records in preparation for probe Former President Muhammadu Buhari has explained why he did not sack the erstwhile governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, despite speculations surrounding his (Emefiele) presidential ambition during the 2023 elections. Buhari disclosed that he did not remove Emefiele because of the absence of firm evidence that he was indeed pursuing a presidential ambition. Buhari revealed this in a memoir titled: ‘Working with Buhari: Reflections of a Special Adviser, Media and Publicity (2015 – 2023)’, written by his…

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Court fines FG, EFCC N100m for unlawfully detaining Emefiele for 5 months in DSS custody

Aminu Imam

A High Court of the Federal Capital Territory (FCT), in Maitama, has declared unlawful the detention of the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele by federal government agencies for about five months without arraigning him in court. In a judgment yesterday, the presiding judge, Justice Olukayode Adeniyi, held that no law allows the government and its agencies to detain a citizen beyond the period allowed by the Constitution. The judgment was on a fundamental rights enforcement suit filed by Emefiele against the Federal Republic of…

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Suspended CBN Governor, Emefiele, denies allegations of fund mis-appropriation and fraud

Aminu Imam

After being released on bail from Kuje Correctional Centre,   the embattled suspended Central Bank if Nigeria (CBN) governor, Godwin Emefiele, has vehemently refuted accusations of embezzling billions and stashing Nigeria’s funds in foreign banks, as reported in social media. Emefiele disputed the credibility of the sources, citing a report by private investigator, Jim Obazee appointed by the President. He asserted that the publications are false, misleading, and designed to tarnish his reputation for Obazee’s personal gain. In the statement, Emefiele said, “After my release on bail from the Kuje Correctional Centre, my…

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Ex-SGF, Boss Mustapha, speaks on $6.3m CBN looting allegation

Aminu Imam

Former Secretary to the Government of the Federation, (SGF), Boss Mustapha, has vehemently denied a report alleging his involvement in the alleged illegal withdrawal of $6.3 million from the Central Bank of Nigeria (CBN) during Muhammadu Buhari’s administration. The report, published by an online newspaper, claimed that a special investigator appointed by President Bola Tinubu uncovered the alleged theft, which supposedly occurred on February 8, 2023 — weeks before the presidential election. The report further alleged that Mustapha, along with the embattled former CBN Governor, Godwin Emefiele, authorised the removal…

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N1.2bn Procurement Trial: Ex-CBN Gov., Emefiele, meets bail conditions, released from Kuje Prison

Aminu Imam

…To spend Xmas New Year in Abuja home Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has been released from Kuje Prison after meeting the bail conditions set by the authorities. VoL learnt that Emefiele was released on Friday, December 22 2023. The bail, totalling N300 million, was fulfilled, enabling Emefiele’s departure from detention. This comes following his arrest and subsequent remand at Kuje Prison. Emefiele’s compliance with the bail requirements facilitated his release from custody. The spokesperson for the Kuje Correctional Centre, Federal Capital Territory (FCT),…

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