The Federal Government on Monday formally arraigned former Governor of the Central Bank of Nigeria (CBN), Godwin Ifeanyi Emefiele, on charges of unlawful possession of 753 housing units in Abuja and various sums of money amounting to over four billion naira.
Emefiele appeared in court to face 8-count charges, which he vehemently denied. The prosecution alleges that the former apex bank chief unlawfully controlled properties at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, spanning 150,462.86 square meters and containing 753 housing units.
Financial Allegations
According to court documents, Emefiele, along with one Eric Ocheme (reportedly at large), is accused of having unlawful control of N76.3 million in a Zenith Bank account numbered 1016232915.
In separate counts, the former CBN Governor allegedly controlled N2.9 billion in the same account and an additional N1.9 billion, all suspected to be proceeds of unlawful activities.
Despite the gravity of these allegations, Emefiele pleaded not guilty to all charges brought against him.
This case represents another chapter in the ongoing scrutiny of Emefiele's tenure at the Central Bank, which has been marked by controversial policies and allegations of financial impropriety.
The prosecution's focus on substantial property holdings and significant bank deposits highlights the government's intensified efforts to address alleged corruption among high-profile public officials.
Legal experts suggest this case could have far-reaching implications for accountability in Nigeria's financial sector and might set precedents for future prosecutions of senior government officials.
The court proceedings continue as the prosecution prepares to present evidence supporting these serious allegations against the former head of Nigeria's apex bank.
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