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Godwin Emefiele Set To Spend Christmas In Prison

3 months ago   MARKET NEWS   Lagos   392 views Reference: 279

Location: Lagos

The former governor of the Central Bank of Nigeria, Godwin Emefiele, is in a tight spot. He couldn't meet the conditions to get out on bail, so he'll be spending Christmas and New Year behind bars. The charges against him are about some shady dealings with a company called April1616 Investment Limited. The Economic and Financial Crimes Commission (EFCC) says he messed up the procurement process in awarding a contract to that company. They've been on his case since August, accusing him of sketchy stuff with vehicles.

In the recent court drama, the EFCC reduced the charges from 20 to 6, with Emefiele pleading not guilty. Witnesses from the Corporate Affairs Commission and Zenith Bank said Emefiele's name wasn't tied to the fishy company. The bank guy even listed big money transfers from the Central Bank of Nigeria to April1616, but he couldn't connect it directly to Emefiele. Another witness, a big shot from CBN, said Emefiele's committee wasn't involved in the specific contract mess that got him in trouble.

The court session ended with the judge setting the next dates for January 18 and 19, 2023. The drama continues!