Breaking News: Emefiele Freed From Kuje Prison

Breaking News: Emefiele Freed From Kuje Prison

Former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has been released from the Kuje Custodial Centre in Abuja. His release took place on Friday afternoon after his legal team successfully secured bail. The bail, granted by Justice Hamza Muazu, amounted to N300 million, and required two sureties of equal sum…CONTINUE READING

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Emefiele faced charges related to procurement fraud and misuse of his position to provide a corrupt advantage to Sa’adatu Yaro, a CBN staff. The charges specifically involved the awarding of a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.

During his time in remand at Kuje, Emefiele was obligated to surrender all his travel documents to the court registrar and was restricted to the Abuja Municipal Area Council (AMAC).

According to Amos Duza, the spokesman for the Federal Capital Territory (FCT) Command of the Nigeria Correctional Service (NCoS), Emefiele was released around 2 pm.

Emefiele, whose tenure as CBN Governor is under scrutiny, is facing allegations of embezzling significant amounts of naira and committing other serious financial offenses. The Special Investigator probing the CBN, Jim Obazee, submitted a report to President Bola Tinubu on December 9, 2023. The report revealed that during Emefiele’s term from June 2014 to June 2023, he engaged in “fraudulent cash withdrawal of $6.23 million” and committed fraud in the redesign of the naira. Additionally, it alleged that he maintained 543.4 million pounds in the United Kingdom.

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Source; Bushradiogist