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Tag: Godwin Emefiele

  • Why I endorsed Emefiele’s Naira redesign policy – Buhari

    Why I endorsed Emefiele’s Naira redesign policy – Buhari

    Former President Muhammadu Buhari has opened up on why he endorsed the Naira redesign policy spearheaded by the embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele.

    TheNewsGuru.com (TNG) reports Buhari to have said he endorsed the controversial Naira redesign policy in the twilight of his administration to protect his own integrity.

    Speaking in a televised interview on Nigerian Television Authority (NTA) on Monday night, the former President stressed the Naira redesign policy was also to show Nigerians that there was no shortcut to success.

    “Whether Nigerians believe it or not, we are an underdeveloped country. And in that sort of situation, there’s materialism and sometimes ruthlessly they didn’t care how they made the money.

    “…I still feel that the only way I could deprive these people was just to make sure that my integrity became unquestionable…I think as a developing country we still have a long way to go.

    “The motivation (for introducing the policy) was to try and make Nigerians believe that there is no shortcut to successful leadership,” Buhari said in his first interview after exiting office about six months ago.

    Besides, he explained that he wasn’t shocked that he was taken to court by Governors from his own party at the time to reverse the policy.

    Buhari said he allowed people to do their jobs when he assigned tasks, stressing that if he was given the same chance he wouldn’t do anything differently under Nigeria’s current system.

    He argued that Nigerians were a difficult set of people to govern, maintaining that they know the right thing to do, but would mostly refuse to do so, because they think they know better than the person on the saddle.

    Buhari said he was still being ‘harassed’ by people who throng his home on a daily basis, noting that if the border with a nearby country was not closed, he would have run out of Nigeria by now.

    He added, however, that he was glad he now wakes up anytime he likes. The former president said he doesn’t miss anything after leaving government.

    “God gave me the opportunity to serve my country, but I did my best. But whether my best was good enough, I leave for people to judge.

    “Nigerians are extremely difficult. People know their rights. They think they should be there, not you. So, they monitor virtually your every step.

    “And you have to struggle day and night to ensure that you are competent enough,” he said.

    He argued that some Nigerians attempted to set a trap for him by trying to ambush him with certain opportunities, but that he avoided the trap because he knew that once they knew he had been compromised, they would take advantage of the situation to milk the country. He added that they would rather become his boss.

    On the Ethiopian/Nigerian Air debacle at the tail end of his administration, Buhari said that if there was any shortcoming he had, it was giving people the free hand to do their work.

  • VIDEO: Watch moments prison warders whisked Emefiele away to Kuje

    VIDEO: Watch moments prison warders whisked Emefiele away to Kuje

    A Federal High Court sitting in the Federal Capital Territory (FCT) on Friday ordered the remand of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in Kuje Correctional facility.

    TheNewsGuru.com (TNG) reports the High Court ordered the remand of Emefiele in Kuje pending ruling on his bail application.

    Justice Hamza Muazu issued the order following Emefiele’s arraignment and his not guilty plea to a six-count amended charge brought against him by the Economic and Financial Crimes Commission (EFCC).

    The original charge, which was 20 counts to the tune of N6.5 billion, has been reduced to six, to the tune N1.6 billion. Emefiele is the only defendant in the new charge.

    Watch moments prison warders whisked Emefiele away to Kuje below:

     

  • UPDATED: FCT High Court grants Emefiele bail

    UPDATED: FCT High Court grants Emefiele bail

    The Federal Capital Territory High Court on Wednesday admitted the embattled former Central Bank Governor, Godwin Emefiele, to  bail.

    Justice Olukayode Adeniyi granted him bail based on his application for for enhancement of his fundamental right before him.

    Emefiele has been in the detention of the Federal government since June.

    Ruling on the bail application on the enforcemen of his right, justice Adeniyi held that the applicant has been in detention longer than the law stipulates.

    He held that this is against the provision of sections 46 (2) of the 1999 constitution as amended.

    ”There must be an end to number of days in detention. The applicant is hereby released on bail to his lawyers, Matthews Burkaa, SAN, Magaji Ibrahim, SAN and J J Usman, SAN.

    ”They must bring him to court on Nov. 15 for his arraignment,, secondly, he must deposit his travelling documents to the Registrar of the court” he held.

    Emeifele was first detained from June, when he was removed as CBN Governor, by the Department of State Service (DSS) and later transferred to EFCC last week, seeking his release.

    Emefiele, through his legal team, joined the Federal Government,Attirney-General of the Federation (AGF), EFCC chairman and the anti-corruption commission as respondents.

    Emefiele was scheduled to be arraigned by the Federal Government before Justice Hamza Muazu of the FCT high court t, Maitama, on August 17 alongside two others, Sa’adatu Ramallan Yaro and a company, April1616 Investment Limited.

    They were to be arraigned on a 20-count charge bordering on procurement fraud to the tine of N6.9billion, conferment of advantage and conspiracy.

    The arraignment could, however, not hold due to the absence of Yaro, who was said to be sick and the matter was adjourned August 23.

  • Release or produce Emefiele Nov. 8 – Court orders EFCC again

    Release or produce Emefiele Nov. 8 – Court orders EFCC again

    Justice Olukayode Adeniyi of an FCT High Court has again ordered the Economic and Financial Crime Commission (EFCC) to either produce or release the embattled former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Nov. 8.

    Justice Adeniyi gave the the first order on Friday after hearing an ex parte motion, on fundamental right marked M/122/2023 in a Motion on Notice with the number, FCT/HC/CV/040/2023, filed by Emefiele.

    Unfortunately, the EFCC could not obey the order at the resumed sitting on Monday as the EFCC counsel, Farouk Abdullahai, told the court that the order was not understood.

    He added that the applicant could not attach some documents to his affidavit.
    Emefiele ‘s counsel, Matthew Burkaa, SAN, had earlier told the court that his client had been in detention of the Federal Government for 149 days.

    He however, promised that he would attach the omitted documents which among others were the charge.
    Responding, Abdullahi, counsel for EFCC, said the applicant had only been in EFCC custody for seven days.
    After listening to their submissions, Justice Adeniyi gave a reiterated order for the release of the applicant or produce him for bail on Wednesday.

    He further directed the applicant ‘s counsel to attach the documents omitted in support of their affidavit and serve parties.
    He then adjourned the matter until Wednesday.
    Emeifele was first detained from June, when he was removed as CBN Governor, by the Department of State Service (DSS) and later transferred to EFCC last week, seeking his release.

    Emefiele, through his legal team, joined the Federal Government, Attorney-General of the Federation (AGF), EFCC chairman and the anti-corruption commission as respondents.

    Meanwhile, Emefiele was scheduled to be arraigned by the Federal Government before Justice Hamza Muazu of the FCT High Court, Maitama, on August 17 alongside two others, Sa’adatu Ramallan Yaro and a company, April1616 Investment Limited.

    They were to be arraigned on a 20-count charge bordering on procurement fraud to the tine of N6.9billion, conferment of advantage and conspiracy.

    The arraignment could, however, not hold due to the absence of Yaro, who was said to be sick and the matter was adjourned August 23.

    Due to the plea bargain Emefiele was said to be discussing with the Federal Government, the matter is yet to be heard till dat

  • Court orders unconditional release of Emefiele

    Court orders unconditional release of Emefiele

    A Federal High Sitting in Abuja has ordered the unconditional release of Mr Godwin Emefiele, the embattled former Governor of the Central Bank of Nigeria (CBN).

    TheNewsGuru.com (TNG) reports the federal high court presided over by Hon. Justice O. A. Adeniyi ordered the release.

    Recall that following the suspension of Emefiele as CBN Governor by President Bola Tinubu on June 9, the Department of State Services (DSS) announced his arrest and detention on June 10.

    It was also reported that Emefiele was arrested and detained by the Economic and Financial Crimes Commission (EFCC) on October 26 less than an hour after the DSS released him.

    The EFCC was said to be probing him over alleged impropriety during his term as the head of the apex bank.

    However, on Thursday (today), Justice Adeniyi ordered the EFCC along with other respondents to release the embattled former CBN Governor “unconditionally” or produce him in court on Monday 6th November, 2023.

    The court order directing the unconditional release of Emefiele reads in full below:

    Upon reading the Motion Ex parte filed on 31» October, 2023 and the accompanying affidavit of Dr. Okanta Emefiele praying this Honourable Court for the following:

    1. AN ORDER directing immediate and unconditional release of the Applicant from the custody of the 3rd and 4 Respondents pending the hearing and the determination of the Originating Motion.

    2. AND FOR SUCH FURTHER OR OTHER ORDERS as this Honourable Court may deem fit to make in the circumstances.

    And upon listening to A Labi-Lawal, Esq. (with Olawale Fapohunda, Esq. Dr. S. M. Oyeghe; I. B. Ahmad, Esq) of learned counsel for the Applicant moving in terms of the motion paper:

    IT IS HEREBY ORDERED:

    Accordingly, the 3rd & 4th Respondents are hereby ordered to unconditionally release the Applicant from detention forthwith; or in the alternative produce him in Court on the date fixed for hearing of the substantive motion on notice for purposes of being admitted to bail by the Court.

    Accordingly, it is hereby further ordered that the motion on notice shall be heard on Monday, 6/11/2023, by 1pm prompt. The instant order, together with the motion on notice shall be served on the Respondents today, 2/11/2023.

  • After releasing ex-EFCC boss, DSS set to handover Emefiele

    After releasing ex-EFCC boss, DSS set to handover Emefiele

    Barely 24hours after releasing former EFCC boss, Abdurasheed Bawa, the Department of State Security Services, DSS is set to release the embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele.

    According to Sources in the Presidency and the Ministry of Justice, Emefiele will be officially handed over to the Economic and Financial Crimes Commission, EFCC later today. This development is coming a day after the release of Ex-EFCC Chairman, Abdulrasheed Bawa.

    Recall that Emefiele has been in the custody of the DSS since June 10th over his alleged involvement in Fraud and Several other offenses. On July 25, Emefiele was arraigned on a two-count charge over “illegal possession” of firearms at a federal high court in Ikoyi and was granted N20 million bail.

    Nicholas Oweibo, the presiding judge, had ordered that Emefiele should be kept in the custody of the Nigeria Correctional Service pending the fulfillment of his bail conditions.
    But the DSS insisted that Emefiele must return to its custody, a development that led to the face-off between the secret police and prison officials.

  • N250 billion NGEP fund: Fresh allegation made against Emefiele

    N250 billion NGEP fund: Fresh allegation made against Emefiele

    The Chairman of the National Gas Expansion Programme (NGEP), Mohammed Ibrahim, has blamed the suspended Chairman of the Central Bank of Nigeria (CBN) for making the programme’s N250 billion fund dormant in the bank.

    Ibrahim claimed that it was the suspended CBN boss who made the N250 billion National Gas Expansion Programme (NGEP) fund dormant in the apex bank for four years, Naija News reports.

    According to him, Emefiele had refused to listen to his team about the conditions put in place by the apex bank for stakeholders in the autogas industry to access the fund.

    He said the conditions to be met for accessing the fund were rather stringent for companies involved in the autogas value chain to access, and Emefiele had refused to make them less burdensome that no individual or company had access to any portion of the fund domiciled with the CBN.

    Speaking during the Annual Training Workshop of the Nigeria Auto Journalists Association (NAJA) with the theme, “Fuel Subsidy Removal: Autogas/Electric Vehicles as Alternatives,” Ibrahim noted that the removal of the fuel subsidy by President Bola Tinubu had frustrated the activities of the subsidy cabals and some stakeholders who said the gas expansion programme would never work.

    He disclosed that the Federal Government has, however, concluded plans to roll out 9000 autogas filling stations from the existing 10,000 retail outlets across the country under NGEP within the next six months.

    He stated that the promise of the Tinubu-led administration to create 100 million jobs was achievable with the gas expansion programme, saying the multi-fuel scheme, which enables vehicle owners to fill their tanks with liquefied natural gas (LNG) or compressed natural gas (CNG) as well as the conventional premium motor spirit would take off in the next six months despite resistance from some stakeholders.

    He said, “Under our NGEP programme, we have what we call the multi-fuel scheme whereby we do not intend to shut down the current petrol stations that we have in the country, about 10,000 of them and like I said earlier, we have carried out an audit whereby 9000 of 10,000 qualify to retrofit to become multi-fuel.

    “So what is going to happen, and we have a couple already in the system, is that you drive into a filling station, you are going to have dispensing facilities for your petrol, diesel, and kerosene, but in addition, you are going to have the dispensing facilities with the cryogenic tower that enables you to have access to LNG and also a dispensing pump for CNG and also a charging point for your electric vehicles.

    “So it becomes a multi-fuel retail outlet that enables you to have access to LNG for your long hauls, CNG for your 300km maximum and conventional petrol, diesel and kerosene.

    “But you don’t even need a separate CNG facility because all you just need is if you have your cryogenic tower, you can generate CNG from your LNG in your station by the addition of a pump.”

  • BREAKING: FG files 20 charges against Emefiele, moves to withdraw illegal possession

    BREAKING: FG files 20 charges against Emefiele, moves to withdraw illegal possession

    Reprieve seems far for the detained former Governor of Central Bank (CBN), Godwin Emefiele as the Federal Government Tuesday applied to withdraw the “illegal possession of firearms” case it filed against him at the Federal High Court sitting in Lagos. Government has rather filed fresh charges – with 20 counts –at the Federal Capital Territory (FCT) High Court against Emefiele.

    Director of Public Prosecutions (DPP) at the Federal Ministry of Justice Mohammed Bakodo Abubakar told Justice Nicholas Oweibo that the application followed the result of further investigations.

    But defence counsel Joseph Daudu (SAN) opposed him, arguing that because the government was in disobedience of the court’s order granting Emefiele bail, its application could not be taken.

    The judge had on July 25, admitted Emefiele to a N20million bail on a two-count charge of illegal possession of firearms and ammunition and ordered his remand at the Ikoyi Correctional Centre, pending the fulfilment of his bail conditions.

    But the DSS rearrested the embattled bank chief after fighting off NCoS officials on the court’s premises.

    It was gathered that the government has filed fresh charges against Emefiele in Abuja.

    Speaking with journalists after the day’s proceedings Mr. Abubakar said the fresh charges – with 20 counts – were filed at the Federal Capital Territory (FCT) High Court.

    One of the counts accuses Emefiele of “conferring unlawful advantages”.

    Justice Nicholas Oweibo of a Federal High Court sitting in Lagos had adjourned till August 15, 2023, for hearing of applications seeking to stop further prosecution of Emefiele, while that of the Ministry of Justice sought to appeal the bail granted Emefiele by the court.

    Justice Oweibo fixed the date after listening to arguments of parties on whether they were ripe for hearing or to enable the defence reply the prosecution’s further counter affidavit which was served on the defence in court just before the proceedings began.

    Ruling on whether the applications were ripe for hearing, the judge noted that the application of the prosecution has been concluded and was ripe for hearing but because the defence has not responded to the further counter affidavit served on him in court, it will be best for the applications to be taken jointly in one day.

    Consequently, the judge adjourned the matter to August 15, for hearing of all applications.

  • President Tinubu appoints special investigator to probe CBN, other related entities

    President Tinubu appoints special investigator to probe CBN, other related entities

    In a move to strengthen the anti-corruption fight, President Bola Tinubu has appointed Jim Obazee as a Special Investigator to conduct a thorough probe into the activities of the Central Bank of Nigeria (CBN) and other related Government Business Entities (GBEs).

    The appointment, based on the constitutional mandate outlined in Section 15(5) of the Constitution of the Federal Republic of Nigeria (as amended), comes as part of President Tinubu’s commitment to ensuring probity and transparency in the nation’s financial institutions.

    The appointment, detailed in a letter dated 28th July, empowers Obazee to lead the investigation and report directly to the President, with the full terms of his engagement as a special investigator to be conveyed to him in due course.

    Obazee, a former chief executive officer of the Financial Reporting Council of Nigeria (FRCN), is tasked with taking swift action to fortify the integrity of key GBEs and to seal leakages within the CBN and its related counterparts.

    A comprehensive report on the present state of public wealth in the hands of corrupt individuals and establishments, whether public or private, is also mandated to be delivered by the special investigator.

    Additionally, the president has directed Obazee to conduct a thorough investigation into public wealth currently in the possession of corrupt individuals and establishments, whether in the private or public sector.

    To execute this mandate effectively, President Tinubu has instructed the Obazee to assemble a suitably experienced, competent, and capable team and to collaborate with relevant security and anti-corruption agencies to deliver on the assignment.

    TheNewsGuru.com (TNG) reports that the appointment comes in the wake of the suspension of the CBN boss, Godwin Emefiele since 9th June and his subsequent arrest at his Lagos residence by operatives of the State Security Service (SSS).

    The SSS has said it is prosecuting Emefiele for possession of an unregistered firearm, and despite being granted bail by the Federal High Court in Abuja, he remains in detention.

    The re-arrest of the suspended CBN boss on 25th July inside the the court premises led to a confrontation between officers of the State Security Service and those from the Nigerian Correctional Centre, who attempted to take custody of him.

  • Emefiele: Falana urges DSS to obey court order, says public officers should learn lesson

    Emefiele: Falana urges DSS to obey court order, says public officers should learn lesson

    Human rights lawyer, Femi Falana (SAN) has also reacted to the re-arrest of Godwin Emefiele, suspended Governor of the Central Bank of Nigeria, (CBN) by the Department of State Services (DSS) against court ruling.

    In a bench ruling after hearing arguments yesterday, Justice Nicholas Oweibo held that the Federal Government failed to establish why Emefiele should not be granted bail.

    “Consequently, the defendant is admitted to bail in the sum of N20 million with one surety in like sum,” he ruled.

    The judge then remanded Emefiele in prison custody against the request of the prosecution that he be remanded in DSS custody.

    However, DSS officers refused to allow Prisons officials take Emefiele, leading to a free-for-all.

    Falana while reacting to the development wondered why in spite of the President Bola Tinubu-led administration’s avowed commitment to the Rule of Law its officials disobeyed a court order.

    He, however, warned public officers to be wary of their actions.

    Falana recalled how Emefiele disobeyed several court orders, including that of the Supreme Court, over the validity of old Naira notes.

    “Notwithstanding the avowed commitment of the Bola Tinubu administration to operate under the rule of law, a team of State Security Service officials brazenly disobeyed the orders of the Federal High Court this morning (yesterday) at the Federal High Court, Ikoyi.

    “The court had admitted Mr. Godwin Emefiele to bail in respect of the offence of illegal possession of firearms.

    “For daring to comply with the orders of the Federal High Court, officials of the Prisons were attacked by gun-totting officers of the SSS.

    “In view of the stern warning of President Tinubu that inter-agency physical attacks would not be permitted under his administration, the security officers who attacked officials of the Ikoyi Prisons ought to be fished out and sanctioned.’

    “The federal government should also ensure that the orders of the Federal High Court are obeyed forthwith.’

    “However, all public officers should draw the necessary lessons from the current travails of Mr. Emefiele.

    “As governor of the Central Bank of Nigeria, he recklessly displayed arrogance and impunity by disobeying the orders of several courts, including the Supreme Court of Nigeria!”