Emefiele Faces Accusations As Witness Exposes Lack Of Due Process In Contracts

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Oluwole Owoeye, the Head of Secretariat for the Major Contract Tender Committee (MCTC) at the Central Bank of Nigeria (CBN), informed the Federal Capital Territory (FCT)…CONTINUE READING

High Court that the former CBN governor, Godwin Emefiele, did not route any of the 45 contracts awarded through the MCTC.

Emefiele faced a six-count charge of procurement fraud brought forth by the Economic and Financial Crimes Commission (EFCC) on November 17, 2023. During Tuesday’s court proceedings, the EFCC’s prosecuting counsel, Rotimi Oyedepo, SAN, presented three witnesses, including Owoeye, along with Samsideen Romanus from the Corporate Affairs Commission (CAC) and Remigious Ugwu, a compliance officer from a commercial bank.

Owoeye’s disclosures were accepted by the court as exhibits F1 to F45. According to a statement from EFCC spokesman Dele Oyewale on Wednesday, Owoeye clarified to Justice Hamza Muazu that any contract exceeding N10 million must undergo scrutiny by the MCTC.

The statement highlighted, “When contractors submit their bids, it is the responsibility of the Committee to vet the companies by ensuring that the particulars of directors are disclosed to the bank, so as to prevent the award of contracts to companies in which any staff of the CBN is a director.

All these requirements that MCTC would have ensured that they are met were circumvented as the contracts did not go through the Committee.

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