N1.2bn Fraud Allegation: EFCC gives crucial update on Emefiele's dilemma

The Economic and Financial Crimes Commission (EFCC) has commented on the case proceedings between it and the embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Recall that Emefiele was arraigned before the Federal High Court sitting in Abuja on Tuesday, November 28, over an allegation of procurement fraud in total of N1.2 billion.

The court had earlier granted the former CBN governor a N300 million bail. He had failed to meet the bail condition and had since been in detention at the Nigeria correctional facilities in Kuje, Abuja.

EFCC raises fresh allegation against Emefiele

Taking to its social media page on Wednesday evening, November 29, the EFCC said Oluwole Owoeye, the third prosecuting witness in the ongoing trial of the former CBN governor, told the federal high court on Tuesday that all contracts Emefiele awarded did not go through the Contract’s Tender Committee of the bank during his time.

According to the EFCC, Owoeye is the head of the Secretariat of the Major Contract Tender Committee (MCTC), and he informed Justice Hamza Muazu's court that any contract above N10 million in the apex bank must be passed through the MCTC.

The statement reads in part: "When contractors submit their bids, it is the responsibility of the Committee to vet the companies by ensuring that the particulars of directors are disclosed to the bank so as to prevent the award of contracts to companies in which any staff of the CBN is a director. All these requirements that MCTC would have ensured were met, were circumvented as the contracts did not go through the Committee."