Former Central Bank of Nigeria Governor, Godwin Emefiele has been granted bail with the sum of ₦50,000,000 and two sureties over a new additional 26 count charges of abuse of office and inappropriate allocation of sales of foreign currency while he was in office.

The Lagos State Special Offences Court on Friday set a bail of ₦50 million for the former Central Bank Governor, Godwin Emefiele by Justice Rahmon Oshodi, the presiding judge who also required the former CBN governor to provide two sureties in like sum to secure his release.

EFCC had on Monday alleged that the former CBN governor  abused his office while he was CBN governor through alleged allocations of $4.5 billion and ₦2.8 billion.

Justice Oshodi held that the sureties must be gainfully employed and have paid the three years’ tax of the Lagos State government.

The Court also ordered that the sureties must show proper identification and be registered in the Lagos State Bail Management System.

The judge stressed that he was satisfied with the bail conditions of ₦1 million, earlier given to Mr Emefiele’s co-defendant, Henry Isioma-Omoil, who is standing another charge before Justice Olufunke Sule-Hamzat in the Yaba Division of the Lagos High Court, according to Punch Newspaper.

However, the court ordered that the bail documents must be transferred to the special offences court and registered in the LSBMS.

EFCC had earlier in its news releases give details of the new 26 count charges against the former CBN governor.

The EFCC press release alongside other news releases of the recent cases of anti corruption war in the country are presented below:

Two Internet Fraudsters Bag Jail Terms in Kaduna

The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentencing of two internet fraudsters before Justice Balarabe Buhari of the Kaduna State High Court sitting in Kaduna.

They were jailed on Wednesday April 3, 2024 on one- count separate charges bordering on cybercrimes.

The convicts are Aaron Barnabas (a.k.a Helena Antonio) and Bosan Godwin Yacham(a.k.a Will Parfitt).

The one -count charge for Barnabas reads:” Aaron Barnabas (a.k.a Helena Antonio) Sometimes in October, 2023 in Kaduna, within the jurisdiction of this Honourable Court, impersonated one Helena Antonio on Facebook, obtained the sum of $200 (Two Hundred United States of America Dollars) from Mauro Nunes and unsuspecting persons, and you thereby committed cheating by impersonation, an offence contrary to Section 308 of the Penal Code Law, 2017 of Kaduna State and punishable under Section 309 of the same Law.”
The charge for Yacham reads; “Bosan Godwin Yacham (a.k.a Linnette Pickard) Male, sometimes in November, 2023 in Kaduna, within the jurisdiction of this Honourable Court, impersonated one Will Parfitt from Australia on Facebook, obtained the sum of $100 (One Hundred United States of America Dollars) from Elizabeth Fier and unsuspecting persons, and you thereby committed cheating by impersonation, an offence contrary to Section 308 of the Penal Code Law, 2017 of Kaduna State and punishable under Section 309 of the same Law.”

They all pleaded guilty to their one- count charges respectively when they were read to them, prompting the prosecuting counsel, Y.J Matiyak to pray the court to convict and sentence them accordingly.

Justice Buhari consequently convicted and sentenced them to two years imprisonment each or pay a fine of ₦150,000.00 (One Hundred and Fifty Thousand Naira) each. They also forfeited their phones used to commit the offences to the government. While Barnabas restituted the sum of $200( (Two Hundred United States of America Dollar), Yacham restituted $100 (One Hundred United States America Dollars) to the government.

The convicts’ journey to the Correctional Centre began when they were arrested at Keffi, Nasarawa state following a sting operation conducted by Operatives of the Kaduna Zonal Command working on intelligence.

Investigations showed that they fraudulently assumed identities of foreigners to create fictitious social media accounts to defraud unsuspecting victims of their hard- earned money.

Gombe Court Jails Three Fraudsters for Employment Fraud

Justice J.A Kereng of the Gombe State High Court sitting in Gombe, on Monday, April 8, 2024 convicted and sentenced the duo of Ibrahim Abdullahi and Umar Usman to various jail terms for obtaining the sum of ₦682,847.00 ( Six Hundred and Eighty- Two Thousand Eight Hundred and Forty-Seven Naira only) under false pretences. He also sentenced Mohammed Sala Soja to six years imprisonment. All the three convicts were jailed for employment fraud.

Abdullahi and Usman were separately arraigned on three count charges of cheating and employment scam by the Gombe Zonal Command of the Economic and Financial Crimes Commission, EFCC.

The charge against Ibrahim Abdullahi reads: “That you, Ibrahim Abdullahi sometimes in October 2020 and January 2021 in Gombe, Gombe State within the jurisdiction of this Honourable Court, obtained the Polaris ATM Card properties of Aminu Adamu Idris and Muhammed Saidu Jibril, which you claimed was documentation for offer of employment you secured for them in a private liability company at Gombe, but rather used the said ATM to obtain loan to the tune of ₦682,847(Six hundred and Eighty Two Thousand, Eighty Hundred and Forty Seven Naira only) without their consent and thereby committed an offense contrary to Section 320 of the Penal Code Law and punishable under Section 322 of the same Law “.

The charge reads “that you, umar Usman sometimes in October 2020 and January 2021 in Gombe, Gombe State within the Jurisdiction of this Honourable Court, obtained the Polaris ATM Card properties of Aminu Adamu. Idris and Muhammed Sadu Jibril, which you claimed was documentation for offer of employment you secured for them in a private liability company at Gombe, but rather used the said ATM to obtain loan to the tune of ₦682,847 (Six Hundred and Eighty Two Thousand, Eighty Hundred and Forty Seven Naira only) without their consent and there by committed an offense contrary to section 320 of the Penal Code Law and punishable under Section 322 of the same Law “.

Upon arraignment, the defendants pleaded guilty to their respective charges when they were read to them.

In view of the defendants’ pleas, prosecuting counsel, A.B Kware prayed the court to convict and sentence them accordingly. However, counsel to the defendants, R.A. Anthony pleaded with the court to temper justice with mercy “as the defendants are first- time offenders who are remorseful for their actions.

Justice Kereng convicted and sentenced Abdulahi to one year imprisonment with an option of fine of ₦50,000 (Fifty Thousand Naira) only and Usman bagged two years imprisonment or a fine of ₦50,000.

The convicts bagged their imprisonment when they allegedly approached their victims in October 2022 about some phony job opportunities in a private liability company in Gombe State. They directed their victims to each open an account with Polaris bank which they did and surrendered the account details as well as their ATM Cards to them. The convicts in return gave their victims the sum of N10,000 each . After a while, the victims had issues with Polaris bank’s transactions and went to the bank to make enquiries only to be confronted with an outstanding loan of ₦682 ,847. All efforts to distance themselves from the loan proved abortive and reported the case to the EFCC.

In a similar development on Monday,
Justice Kereng also convicted and sentenced one Soja to six months imprisonment. He was arraigned on three count charges of intent to defraud, cheating and employment scam by the Gombe Zonal Command of the Economic and financial Crimes Commission, EFCC.

One of the charge reads “that you, Muhammed Sala Soja sometimes in July 2023, at Gombe, Gombe State within the jurisdiction of this Honourable Court, with intent to defraud did make a false document titled “2023 recruitment invitation for marshal’s basic course” which knew to be false and thereby committed an offense contrary to section 362 of the Penal Code Law and punishable under Section 364 of the same Law. “

Upon arraignment, he pleaded guilty to the charges, prompting the prosecution counsel, AB Kware to pray the court to convict and sentence him accordingly.

However, counsel to the defendant, I.S Gada pleaded with the court to temper justice with mercy “as the defendant who was remorseful for his actions is the breadwinner of his family and has a medically challenged father to care for”.

Justice Kereng then asked Kware if the defendant was a first time- offender and the prosecution counsel responded that though the defendant had made restitution to the victim of crime, he was convicted by same court on February 14 2024 for a similar offence”.

Responding, the judge said, “ based on the plea of the defence counsel coupled with the fact that the defendant has restituted the victim of crime and his father’s medical condition, I will give him a second chance. The defendant is hereby convicted and sentenced to six years imprisonment with an option of fine of ₦150,000
Soja still has other pending cases with the EFCC .

EFCC Grills Eight Suspected Oil Thieves in Uyo

The Uyo Zonal Command of the Economic and Financial Crimes Commission EFCC, has commenced investigation of alleged illegal activities of eight suspected dealers in petroleum products without appropriate licences.

The arrested suspects are: Pere Ebiye (Captain), Okon David (DeckMan) , Enuwa Wilson (Cook) , Wesley Okon (DeckMan) , Ade Ojo Idowu (Assistant Engineer) , Oluwadamire Abraham (DeckMan) , Oluwole Azuzu (Assistant Captain) and Taiwo Adebanwo (Chief Engineer) .

They were arrested on Friday February 23, 2024, onboard a wooden boat, MV Jasmine, which was laden with 30,000 (Thirty Thousand) litres of petroleum products suspected to be crude, bunkered in a cellophane- sealed compartment of the boat and in four Geepee tanks.

Both the arrested crew members and the exhibits were handed over to the Commission on Tuesday April 3, 2024 by the Commanding Officer Captain (NN) Uche Aneke of the Nigeria Navy Ship, Forward Operating Base Ibaka, in Akwa Ibom State.

According to him, the crew were arrested at Posn Lat. 04°18.258°N. Long 008°29. 696’E by the Navy Ship Ekulu during a patrol. He expressed determination to ensure that the Nigerian waterways remain safe and free of criminal activities. “The Navy is on alert to arrest and prosecute any person found culpable in any criminal activity on our waterways or conveying illegal products as well as petroleum products”, he said.

While receiving the crew members, boat and products, the Uyo Zonal Commander, Assistant Commander of the EFCC, ACE1 Bawa H. Saidu who was represented by Assistant Superintendent of the EFCC, ASE1 Terseer Chinyam thanked the Nigerian Navy and assured it of the Commission’s readiness to always partner with it and other security agencies to curb economic crimes in Nigeria.

Shun Cyber Crime, EFCC Chairman Warns Youths

The Executive Chairman of Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has called on youths to shun cybercrime and other forms of criminality.

The EFCC chairman made this call in Benin-City, Edo State while speaking on a programme ‘Youth Empowerment Against Cybercrime” organised by Cybersecurity Education Initiatives, CYSED, a non-profit organisation dedicated to cybercrime prevention.

The EFCC boss who was represented by Williams Oseghale, Head, Public Affairs Department, Benin Zonal Command warned the youths to stay away from cybercrime as the consequences were grave. He stated that the laws empower the Commission to arrest and prosecute anyone found culpable.

“Don’t be tempted or lured by the ostentatious lifestyle of other youths because the Commission will continue to arrest and prosecute anyone that is involved.

In the last few years, the Commission has secured thousands of convictions of persons involved in cybercrime, many have been stripped of their illegally acquired properties. So they have ended in shame. There is no escape route for those involved in cybercrime,” he said

He stated that there was no shortcut to wealth and urged the youths to use the internet to innovate and create positive economic growth. “The internet does not necessarily have to be an avenue to impersonate, manipulate and fabricate lies to defraud others. Let the youths begin to use the internet for socially desirable things like offering digital solutions to the needs of industries, homes, governments and other engagement of life.”

Moses Joshua, Executive Director, CYSED, said the essence of the programme was to build mental strength in youths to resist cybercrime and other Serious Organised Crime SOC. “It is to enhance knowledge and awareness about the adverse effects of SOC and establish a sustainable impact through virtual space. We expect to see increased positive behavioural change in target beneficiaries and a reduction in SOC activities within the community,” he said

EFCC Arraigns Binance, Executive for Alleged $34 Million Money Laundering

The Economic and Financial Crimes Commission, EFCC on Monday, April 8, 2024 arraigned Binance Holdings Limited and one of its executives, Tigran Gambaryan before Justice Emeka Nwite of a Federal High Court sitting in Abuja.

They were arraigned on a 5-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).

At the last adjourned date, the second defendant, Tigran Gambaryan had claimed that he was not an agent, director, or a representative of the Binance Company in Nigeria and should not be served on behalf of the first defendant.

However, at Tuesday`s sitting, Justice Nwite held that the second defendant, in his earlier affidavit, had stated that he is an American who visited Nigeria along with Nadeem Anjarwalla, a British-Kenyan citizen, solely for the purpose of attending a meeting with government officials as representatives of Binance. He also mentioned in the document that he joined Binance in September 2021, which clearly shows his involvement with the first defendant within jurisdiction, thereby striking out the objection to stop his arraignment.

“Count One of the charge reads; That you BINANCE HOLDINGS LIMITED (“A.K.A BINANCE”), TIGRAN GAMBARYAN AND NADEEM ANJARWALLA (now at large) between January, 2023 and January 2024 in Abuja within the jurisdiction of this Honourable Court carried on specialized business of other financial institution without valid licence and thereby committed an offence contrary to Section 57(1) and (2) of the Banks and other Financial Institutions Act, 2020 and punishable under section 57(5) of the same Act.

Another count reads; that you BINANCE HOLDINGS LIMITED (A.K.A) BINANCE”) between January, 2022 and January 2024 in Abuja with the Jurisdiction of this Honorable Court not being an authorized dealer in Nigeria`s Autonomous Foreign Exchange Market used your virtual asset services platform to unlawfully negotiate foreign exchange rates in Nigeria and you thereby committed an offence contrary to and punishable under section 29(1)(c) of the foreign Exchange (Monitoring And Miscellaneous Provisions) Act.

He pleaded not guilty to all the charges when they were read to him.

In view of his plea, prosecuting counsel, Ekele Iheanacho asked the court for a trial date.

However, defense counsel, Mark Mordi, SAN, pleaded with the court to grant his client bail, stating that the second defendant is a foreign national who has been in detention for over 40 days claiming that his detention is unlawful. He further again pleaded that the defendant should be remanded in EFCC custody instead of the correctional center.
Responding, Iheanacho stated that the circumstances of the defendant`s detention is lawful, adding that the law provides that after an arraignment is made, a defendant is supposed to be remanded in a correctional centre, as it does not matter the status of the defendant, hence his detention is lawful.
Justice Nwite fixed April 18, 2024 for hearing of bail applications and May 5, 2024 for trial. Furthermore, he ordered that the defendant be remanded in Kuje Correctional Centre.

EFCC Arraigns Emefiele for Alleged $4.5 Billion, ₦2.8 Billion Fraud

The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, April 8, 2024, arraigned a former Governor of the Central Bank of Nigeria, Godwin Emefiele, before Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos for an alleged $4.5 billion and ₦2.8 billion fraud.

Emefiele was arraigned alongside one Henry Omoile on an amended 26-count charge.
The former CBN Governor was specifically mentioned in counts one to four as well as counts eight to 26 bordering on alleged abuse of office, contrary and punishable under Section 73 of the Criminal Law of Lagos 2011; accepting gratification, contrary and punishable under Section 8 of the Corrupt Practices and Other Related Offences Act 2000; corrupt demand, contrary and punishable under Section 10 of the Corrupt Practices and Other Related Offences Act 2000; receiving property fraudulently obtained, contrary to and punishable under Section 328 of the Criminal Law of Lagos 2011; and conferring corrupt advantage, contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000.

Omoile was mentioned in counts five, six and seven bordering on acceptance of gifts by agents, contrary to Section 65 of the Criminal Law of Lagos State 2015.

Count one: “That you, Godwin Ifeanyi Emefiele, between 2022 and 2023 in Lagos, within the jurisdiction of this Honourable court, directed to be done in abuse of the authority of your office as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

Count two: “That you, Godwin Ifeanyi Emefiele, between 2020 and 2021 in Lagos, within the jurisdiction of this Honourable court, directed to be done in abuse of the authority of your office as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $291,945,785.59 without bids, which act is prejudicial to the rights of Nigerians.”

Count five: “That you, Henry Isioma Omoile, on or about the 17th of November 2020, within the jurisdiction of this Honourable Court, whilst acting as an agent, accepted from Raja Punjab through Moday Osazuwa the total sum of $110,000 for Godwin Ifeanyi Emefiele, gifts as reward for allocating foreign exchange by the Central Bank of Nigeria in favour of Raja Punjab’s employer.”

They pleaded “not guilty” to all the charges when they were read to them.

In view of this, prosecution counsel, Rotimi Oyedepo, SAN, said: “ By their plea, they have given themselves up for trial.

We pray the court to grant accelerated hearing and for us to call our witnesses to prove our case.”

Counsel representing the defendants, A. Labi-Lawal, informed the court of the bail applications for the defendants, which he said had been served on the prosecution.
Moving the bail application for Emefiele, he urged the court to grant him bail “on self- recognisance” or “on the most liberal terms”, pending the hearing and determination of the case.

In his argument, he gave a background to the case involving Emefiele, being prosecuted by the EFCC, before Justice Muazu of a Federal Capital Territory, FCT High Court. He also informed the court that the court granted Emefiele bail in the sum of ₦300 million and two sureties in like sum, which he said Emefiele had met.

Labi-Lawal added that the bail condition confining him to Abuja, pending the trial in Abuja, was later varied, adding that “this is what has enabled him to be in court today.

The offence is a bailable one and is not a capital offence. The defendant does not have any criminal record; and his antecedent, at the other matter, where he has dutifully attended trial, shows that he is not a flight risk.”

He further prayed the court that Emefiele “be released to his lawyers pending determination of the bail application”, so he could still attend to other charges against him.

Moving the bail application for the second defendant, he urged the court to grant him bail on most liberal terms pending the hearing and determination of the case.

Responding, Oyedepo noted that granting bail was at the discretion of the court. We allow the court to exercise this discretion judicially and judiciously,” he said. He also prayed the court to impose conditions “that will compel him to appear before this court for his trial, as what we pray for is accelerated hearing.” He further noted that there was a court order secured by the defence granting the second defendant bail. This case is now pending before your lordship,” he said.

Thereafter, Justice Oshodi adjourned till April 11, 2024 “for ruling on bail and trial.” He also ordered that Emefiele be remanded in the EFCC custody, and the second defendant at the Ikoyi Correctional Centre.

Olukoyede Tasks NACOED Students on Corruption, National Development

The Executive Chairman, Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called on Nigeria students to shun computer- related frauds and other criminal tendencies and imbibe desirable attitudes necessary for national development.

He gave the charge on Wednesday, March 20, 2024 in a lecture entitled, “Impact of Cybercrime on Nigeria Economy: Tertiary Education in Perspective” delivered during the matriculation ceremony and orientation programme for Degree and NCE students for 2023/2024 academic session of the Nigerian, Army College of Education, NACOED, Sobi, Ilorin.

The EFCC boss, who spoke through the Head of Public Affairs Department of the Ilorin Zonal Command of the EFCC, Ayodele Babatunde expressed worry over the alarming rate of students’ involvement in cybercrime and other social vices, pointed out that the country could only realise its full potentials when youths imbibe the culture of excellence and shun all forms of criminalities.

He acknowledged that Nigerian youths are blessed with great potential, and challenged them to deploy them into good uses. He added that cybercrime should not be seen as a way of life, noting that “ostentatious and flamboyant lifestyle without corresponding hard work is perilous.”

“It is very unfortunate that young people these days have chosen to follow the fast lane, forgetting that speeding in the wrong direction leads to problems. Imagine young people , including teenagers going into cybercrimes and even rituals. I want to encourage you not to be discouraged. Always remember that evil can never win over good and that every action has a reward”, Olukoyede said.

Speaking on the impact of cybercrime, the EFCC Chair said that a society where cybercrime and corruption is allowed to thrive, would among other things suffer underdevelopment, poor education, public and private dysfunctionality, poor infrastructural development and security crisis which included but not limited to banditry, kidnapping, killing for rituals, cultism and terrorism financing.

Enumerating some of the efforts of the EFCC in tackling cybercrime among the youths, Olukoyede said that the Commission recently convoked a meeting of heads of tertiary institutions and faith-based organisations in Abuja to deliberate on ways to curb the menace of cybercrime on campuses. He added that resolutions at the meeting had already started yielding results.
He urged the students to take advantage of the EFCC’s Integrity Clubs and Zero Tolerance Club in our secondary and tertiary institutions to enlist as anti-corruption foot soldiers of the Commission.

The anti-graft czar, while congratulating the matriculants, enjoined them to be above board in character and learning and be good ambassadors of their home, school and country at large. He also urged members of the public to always secure their phone and devices by using strong passwords and avoid sharing personal details and sensitive information such as PIN, BVN or card details with people on social media in order not to fall victim to hackers.

In his closing remarks, the Provost of the NACOED, Major General Umar Babangida commended the EFCC for the presentation which he described as “rich and resourceful”, pledging the readiness of the College to collaborate with the EFCC in its efforts to rid the country’s campuses of cybercrime. He also promised to work closely with the EFCC to ensure the establishment of the Zero Tolerance Club in the college and ensure its functionality.