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Emefiele Approved Contracts, Payments To Wife, Brother-in-law – Witness Testifies
Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele faced damning allegations in court on Monday as a prosecution witness accused him of awarding lucrative contracts to companies owned by his wife and a brother-in-law.
This testimony was given during Mr. Emefiele’s trial at the Federal Capital Territory (FCT) High Court in Maitama, Abuja.
Responding to questions from the defence team, Mr. Agboro, the seventh prosecution witness (PW7), provided details in the ongoing case where Mr. Emefiele faces charges including corruption, conspiracy, criminal breach of trust, forgery, and obtaining approximately $6.23 million under false pretences.
His trials in Abuja and Lagos follow his removal from office by President Bola Tinubu last June.
During the proceedings on Monday, Michael Agboro, an investigator with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), testified under the guidance of Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN) prosecuting for the EFCC.
Agboro had initially stated in March that former CBN governor Godwin Emefiele awarded 45 contracts, totaling billions of naira, to family members and associates, including his wife Margaret Emefiele.
The witness detailed that April 1616 Investment Limited, owned by Sa’adatu Ramalan Yero, a CBN employee and an associate of Mr. Emefiele, was one of the companies benefiting from these contracts.
According to Agboro, a collaborative investigation involving the ICPC, EFCC, Code of Conduct Bureau (CCB), and the State Security Service (SSS) revealed that these contracts were allegedly awarded to confer corrupt advantages upon the recipients.
During cross-examination, prosecution witness Michael Agboro reaffirmed his earlier claims despite questioning from Godwin Emefiele’s counsel, Mathew Burkaa, a Senior Advocate of Nigeria (SAN).
According to reports, Agboro reiterated that Mr. Emefiele allegedly conferred unfair advantages on Saadatu Yaro, a CBN employee, as well as on his wife and brother-in-law through awarded contracts.
When asked if Mr. Emefiele personally approved and awarded contracts, Agboro confirmed that the defendant indeed approved the contracts in question.
Responding to queries about the distinction between Mr. Emefiele and the CBN institution, Agboro noted that while Mr. Emefiele was an employee of the CBN, there existed a difference between the two entities.
Regarding Mr. Emefiele’s role in the tender’s board or procurement department, Agboro admitted he did not possess knowledge on those specifics.
He said “We limited our investigation to him, his wife, relatives and associates.”
However, Michael Agboro clarified that investigations did not find evidence of Mr. Emefiele holding directorship, shareholding, or account signing authority in April 1616 Limited or Architekon Nigeria Limited.
He also acknowledged there was no proof indicating these companies paid Mr. Emefiele for his official duties.
When questioned about whether his investigative team interviewed relevant CBN officials regarding the execution of contracts by these firms, Agboro confirmed they did.
However, he admitted he couldn’t recall if their final report definitively stated whether the companies successfully completed the contracted jobs.
Justice Muazu accepted the exhibits into evidence and adjourned the case until June 25, 2024, for the witness to undergo re-examination.
The prosecution has leveled 20 charges against Mr. Emefiele, including criminal breach of trust, forgery, conspiracy to obtain money by false pretenses, and obtaining money under false pretenses during his tenure as CBN governor.
Furthermore, it is alleged that Mr. Emefiele forged a document titled “Re: Presidential Directive on Foreign Election Observer Missions” dated January 26, 2023, with Reference No. SGF.43/L.01/201, purportedly from the Office of the Secretary to the Government of the Federation (SGF).
The EFCC has accused him of leveraging his position as CBN governor to unfairly benefit two companies, namely April 1616 Nigeria Ltd and Architekon Nigeria Ltd, through corrupt means.
The Federal High Court in Abuja has sentenced a Boko Haram member, Alkali Yarima, also known as La’ari, to death by hanging for his involvement in the 2015 terrorist attacks on Maiduguri, Borno State.
Justice James Omotosho delivered the judgment on Friday, finding Yarima guilty of participating in acts of terrorism that led to the deadly attacks.
The court also imposed multiple prison terms on the convict for other terrorism-related offences.
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Aside from the death sentence on count seven, the court sentenced Yarima to life imprisonment on count six for receiving arms and weapons training in preparation for carrying out terrorist activities.
Justice Omotosho also handed him 35 years imprisonment on count one for professing membership of the proscribed Boko Haram terrorist group, and 30 years imprisonment on count five.
In addition, the court sentenced him to 10 years imprisonment each on counts two, three and four.
The Federal Government had arraigned Yarima on a seven-count charge marked FHC/KNJ/CR/971/2026, filed by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), on behalf of the Attorney-General of the Federation.
According to the prosecution, Yarima, who hails from the Lawanti area of Mafa Local Government Area of Borno State, belonged to Boko Haram between 2009 and 2015 before his arrest.
He was also accused of accepting the teachings (Da’awah) of the sect’s late founder, Mohammed Yusuf, and remaining a member of the terrorist organisation despite its proscription.
The prosecution further told the court that Yarima travelled to an Arab country where he received training in arms and weapon handling in preparation for terrorist operations, an offence punishable under the Terrorism (Prevention Amendment) Act, 2013.
He was also found guilty of participating in the 2015 attacks on Maiduguri, an offence that attracted the death penalty under Section 2(1) of the Terrorism (Prevention Amendment) Act, 2013.
The trial, which is usually conducted in Kainji, Niger State, was moved to the Federal High Court in Abuja.
Speaking after the judgment, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), reaffirmed the Federal Government’s resolve to eliminate terrorism in Nigeria.
“We will fight with every inch of our blood to ensure that we make Nigeria a safe place for everybody,” Fagbemi said.
The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,175 to N1,125 per litre.
A statement from the company on Thursday has it that this latest adjustment reflects the refinery’s ongoing commitment to ensuring price stability, improving affordability, and supporting Nigeria’s energy security objectives.
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The price review underscores Dangote Refinery’s responsiveness to prevailing market conditions and its efforts to pass on cost efficiencies to downstream partners and consumers.
“Dangote Refinery remains focused on its broader mission of contributing to economic growth, enhancing fuel availability, and fostering a more competitive and sustainable petroleum sector in Nigeria,” the statement added.
The Securities and Exchange Commission (SEC) has explained why it directed capital market operators to immediately refund funds collected from investors in connection with a purported Initial Public Offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE.
In a public notice issued on Tuesday, the Commission revealed that it had observed the circulation of advertisements, flyers, digital banners, and electronic messages across social media and investment platforms inviting members of the public to invest in the refinery through an alleged IPO.
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According to the SEC, the purported offer has not received regulatory approval, as the Commission has neither received nor approved any application from Dangote Petroleum Refinery & Petrochemicals FZE for a public offering.
The regulator expressed concern that some registered capital market operators were actively promoting the unapproved offer and soliciting subscriptions from prospective investors.
Explaining the reason for its directive, the SEC stated that the campaign was misleading and amounted to market manipulation capable of creating false expectations among investors and undermining confidence in Nigeria’s capital market.
The Commission noted that invitations encouraging members of the public to open accounts, pre-fund investments, or reserve guaranteed share allocations for the alleged IPO violate provisions of the Investments and Securities Act as well as existing market regulations.
As a result, the SEC ordered all registered operators, including stockbrokers and promoters of digital investment platforms, to immediately cease all advertising and promotional activities relating to the purported offer.
The Commission further directed operators to remove all related promotional materials from their websites, social media pages, and other communication channels within 24 hours.
In addition, firms were instructed to stop accepting deposits, investment commitments, account registrations, or expressions of interest linked to the alleged public offering.
To protect investors from potential losses, the SEC ordered any operator that had already collected funds in connection with the purported IPO to refund such monies within 24 hours.
The regulator warned that any operator that fails to comply with the directive risks facing sanctions under the Investments and Securities Act 2025 and the SEC Rules and Regulations.
The Commission also advised Nigerians to rely only on information released through approved regulatory channels and to ignore unofficial promotional campaigns or investment solicitations concerning the refinery.
SEC added that if Dangote Petroleum Refinery & Petrochemicals FZE eventually decides to proceed with a public offering and secures regulatory approval, an authorised prospectus will be published in line with the law.
The directive comes amid reports that the Dangote Group is considering listing a 10 per cent stake in its $20 billion refinery through a Pan-African IPO expected in 2026.
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