Emefiele, Former CBN Governor, Allegedly Acquired 43 Vehicles Valued at ₦1.2 Billion

The Federal Government of Nigeria levelled accusations against former CBN Governor, Mr. Godwin Emefiele, claiming improper acquisition of 43 vehicles valued at N1.2 billion from 2018 to 2020, according to a Channels News report.

He faced a reduced six-count charge, down from the initial 20 counts involving N6.5 billion.

Emefiele, the sole defendant, appeared in court and pleaded not guilty to the charges.

The charges focused on alleged procurement fraud.

Emefiele was accused of illegally purchasing 43 vehicles between 2018 and 2020 valued at N1.2 billion. Additionally, he allegedly awarded a contract for 37 Toyota Hilux vehicles worth N854 million.

One charge stated that Emefiele, while serving as CBN Governor, granted undue favor to Sa’adatu Ramallan Yaro, a CBN staff, by awarding a contract worth N854,700,000 to April 1616 Investment Ltd., a company in which Yaro was a director.

Similar accusations were made regarding a Toyota Avalon worth N99,900,000 and a Toyota Landcruiser V8 valued at N73,800,000, both awarded to the same company.

The allegations also included awarding contracts to Yaro for two Toyota Hilux Shell Specification Vehicles costing N44,200,000 in 2020.

The case is adjourned until November 22 for a ruling on Emefiele’s bail application and November 28 for the trial’s start. In the interim, the court ordered Emefiele’s remand at the Kuje Correctional Centre.

Here’s the breakdown of the vehicles and their alleged prices mentioned in the information:

1. 37 Toyota Hilux Vehicles – Valued at ₦854,700,000.

2. One Toyota Avalon – Worth ₦99,900,000.

3. One Toyota Landcruiser V8 – Allegedly priced at ₦73,800,000

4. Two Toyota Hilux Shell Specification Vehicles – Costing ₦44,200,000.

These were the vehicles mentioned in the allegations against Mr. Godwin Emefiele, the former CBN Governor.