Emefiele out of prison after 195 days as CBN panel submits damaging report to Tinubu
The embattled ex-governor of the Central Bank of Nigeria, Godwin Emefiele, has been released from Kuje Prison after fulfilling his bail conditions.
According to reports published by The Whistler, Mr Emefiele was released on Friday, citing sources at the correctional service.
The Federal Capital Territory High Court Abuja granted N300 million bail to Mr Emefiele, who is standing trial for alleged procurement fraud.
He was re-arraigned on a six-count charge bordering on procurement fraud on November 18 and remanded in Kuje Prison.
He was accused of corruptly enriching himself as CBN governor by using Sa’adatu Yaro, an employee of the CBN, to award a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.
According to the charge sheet, the vehicles included 37 Toyota Hilux at the cost of N854.7 million, one Toyota Avalon at the cost of N99.9 million, one Toyota Landcruiser V8 at the cost of N73.8 million, two Toyota Hilux Shell Specification at the cost of N44,200,000.
In a report submitted to President Bola Tinubu on Wednesday, Jim Obazee, a special investigator probing the CBN and related entities, accused the former CBN boss of using Ways and Means advances by the apex to enrich himself.
According to the report titled, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable Offences),’ Mr Emefile allegedly utilised two Dubai, United Arab Emirates-based companies, Luxis International DMCC (Luxis) and Magna International DMCC (MAGNA), which are owned by Vink Corporation Middle East FZC.
He reportedly used the companies as proxies to establish Titan Trust Bank and to acquire Union Bank of Nigeria.
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