Court Remands Former CBN Governor, Emefiele, Adjourns Case To Nov. 22


A High Court sitting in Abuja, Nigeria’s Federal Capital Territory, has ordered the remand of a former Governor of the Central Bank of Nigeria, Godwin Emefiele, in the Kuje Correctional Centre, pending the determination of his bail request.

Emefiele’s case was adjourned to November 22 to rule on his bail application.

Justice Hamza Muazu gave the order and adjourned until Nov. 22 when Emefiele’s bail application will be heard.

Emefiele was arraigned by the Federal Government on a six-count charge on procurement fraud.

The trial which had been stalled on three occasions finally held on Friday, following the end of an industrial action by the Nigeria Labour Congress.

The Federal Government had originally preferred a 20 counts charge against Mr Emefiele to the tune of N6.5 billion, which was however reduced to six, to the tune of N1.6 billion.

Emefiele is the only defendant in the new charge.

The Federal Government in the charge, is accusing the former CBN boss of illegally purchasing 43 vehicles between 2018 and 2020 to the tune of N1.2 billion.

Mr Emefiele was at the center of the Naira Redesign policy in 2022, which brought about a nationwide scarcity of the local currency, resulting in the illegal hoarding, buying and selling of Naira notes across the country.