Current:Home > MyFormer Nigerian central bank chief arraigned and remanded in prison for alleged fraud-DB Wealth Institute B2 Expert Reviews
Former Nigerian central bank chief arraigned and remanded in prison for alleged fraud
View Date:2024-12-23 19:54:01
ABUJA, Nigeria (AP) — The former governor of the Central Bank of Nigeria, who was removed from office in June, was on Friday charged with procurement fraud at a local court, which remanded him in prison pending his bail ruling.
In amended charges, the Nigerian goverment said Godwin Emefiele illegally awarded contracts for dozens of vehicles during his time as the governor of the apex bank in Africa’s largest economy, according to court documents.
The charge sheet alleged that Emefiele used his position as the bank’s governor to “confer a corrupt advantage” on another member of staff by awarding the contracts to a company with links to that staff member, thereby breaching Nigeria’s procurement laws.
Appearing in court in Abuja, Nigeria’s capital, Emefiele pleaded not guilty to the charges, which could land him in jail for at least five years if convicted. He has been in custody for most of the time since he was removed from office.
Regarded as one of the most powerful government officials in Nigeria when he led the bank, Emefiele’s nine years of overseeing Nigeria’s monetary policy affairs was ended by Nigeria’s new president, Bola Tinubu, shortly after he took office in May.
The Nigerian presidency had said his suspension was to enable an investigation into the central bank’s affairs as part of new reforms in the financial sector, though it did not surprise many because of some of the bank’s policies had been seen as controversial such as Nigeria’s failed currency swap program.
Some of his monetary policies also appeared different from the agenda of Tinubu while he was running for president — which matters in a country where the presidency has a huge influence on how the central bank operates.
His prolonged detention and investigation had complicated his case, leading him to sue Nigeria’s secret police for allegedly breaching his fundamental rights by detaining him longer that the period provided by the law. He was later released on court orders.
The court is expected to rule on his bail application next week.
veryGood! (9)
Related
- GreenBox Systems will spend $144 million to build an automated warehouse in Georgia
- The One Where Jennifer Aniston Owns the 2024 Sag Awards Red Carpet
- Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
- SAG Awards 2024 Red Carpet Fashion: See Every Look As the Stars Arrive
- Denzel Washington teases retirement — and a role in 'Black Panther 3'
- 2024 could be an incredible year for Block stock. Here's why.
- The Swiftie-hood of the traveling jacket: 'Dave's Jacket' travels to 46 Eras shows
- Miley Cyrus’ 'phallic room' of sex toys made her a perfect fit for 'Drive-Away Dolls'
- Justice Department says jail conditions in Georgia’s Fulton County violate detainee rights
- Mega Millions winning numbers for February 23 drawing as jackpot passes $520 million
Ranking
- Burt Bacharach, composer of classic songs, will have papers donated to Library of Congress
- You're Invited Inside the 2024 SAG Awards After-Party With Jon Hamm, Joey King and More
- 2024 could be an incredible year for Block stock. Here's why.
- Bow Down to Anne Hathaway's Princess Diaries-Inspired Look at the 2024 SAG Awards
- Maine elections chief who drew Trump’s ire narrates House tabulations in livestream
- United Airlines is raising its checked bag fees. Here's how much more it will cost you.
- Duke's Kyle Filipowski injured in court storming after Wake Forest upset: 'Needs to stop'
- Star Trek Actor Kenneth Mitchell Dead at 49
Recommendation
-
Maine elections chief who drew Trump’s ire narrates House tabulations in livestream
-
Biggest moments from the SAG Awards, from Pedro Pascal's f-bomb to Billie Eilish's Sharpie
-
Why are we so obsessed with polyamory?
-
Arizona sector becomes No. 1 hotspot for migrant crossings, despite border walls and treacherous terrain
-
Flurry of contract deals come as railroads, unions see Trump’s election looming over talks
-
Alexey Navalny's body has been handed over to his mother, aide says
-
Takeaways from South Carolina primary: Donald Trump’s Republican home field advantage is everywhere
-
Suspect arrested in murder of student on Kentucky college campus