The trial of Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), commenced yesterday at the High Court of Justice in the Federal Capital Territory (FCT), Abuja. Emefiele faces charges brought by the Economic and Financial Crimes Commission (EFCC), alleging a breach of procurement procedures in the award of N1.2 billion vehicle supply contracts by the CBN during his tenure.
The trial began with three witnesses testifying in favor of Emefiele, seeking to exonerate him from any wrongdoing.
First Witness Clears Emefiele of Ownership in Contract-Awarded Company
The first witness, Samsideen Romanus, a top official of the Corporate Affairs Commission (CAC), testified that the former CBN governor was neither the owner nor a shareholder of April1616 Investment Limited, the company awarded the N1.2 billion vehicle supply contract by the CBN. Romanus presented evidence of the company’s incorporation on August 1, 2016, highlighting the names of the actual joint owners, including Aminu Idris Yaro, Maryam Aliyu Abdullahi, and Saadatu Ramalan Yaro.
The witness emphasized that the former CBN governor’s name had no connection with the company and clarified that the CAC had no involvement in the day-to-day operations of the entity.
Compliance Officer Reveals CBN Payments to Contract-Awarded Company
The second witness, Remigious Ugwu, a compliance officer of a commercial bank, provided details on the monetary transactions between the CBN and April1616 Investment Limited. He disclosed that substantial sums, totaling millions of naira, were transferred by the CBN to the company on multiple occasions.
Ugwu specifically noted payments of N39,060,465, N421,953,488, and N304,883,720 on various dates in 2020 and 2021. Importantly, he confirmed that none of these transactions had any association with the former CBN governor, further asserting that the former CBN governor was not a signatory to the company’s bank account.
Witness from CBN Denies Involvement in Contract Vetting
The third witness, Oluwole Owoeye, a deputy director of Banking Services at the CBN and former secretary to the Major Contract Tendering Committee (MCTC), testified that his committee was not involved in vetting the bidding process that led to the prosecution of Emefiele.
Owoeye explained that a separate committee, distinct from MCTC, handled the bidding process due to its exceeding the thresholds set for his committee. While acknowledging that contracts for vehicle supplies were awarded to April1616, Owoeye stated that he could not confirm if the contracts were executed or paid for, emphasizing that his committee played no role in those aspects.
Lack of Emefiele’s Involvement in Company Finances Emphasized
Throughout the testimony, it became evident that the former CBN governor had no direct involvement in the ownership, operations, or finances of April1616 Investment Limited. Both the witnesses from the CAC and the commercial bank underscored that Emefiele’s name was not linked to the awarded company and that he did not have any financial role in the transactions between the CBN and April1616.
Department Fully Functional During Emefiele’s Tenure
The third witness, Owoeye, highlighted the efficiency and functionality of both the Major Contract Tendering Committee (MCTC) and the Procurement Department during Emefiele’s tenure as the CBN governor. While confirming that contracts for vehicle supplies were awarded, he clarified that his committee had no role in vetting the contracts leading to Emefiele’s prosecution.
This sheds light on the institutional processes in place during Emefiele’s leadership and suggests that the legal proceedings may lack a direct connection to any malfeasance on his part.
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