CBN: Emefiele Rots In Kuje Prison; Friends Abandon Him

Close family friends and associates of Godwin Emefiele, the embattled Central Bank of Nigeria, CBN, governor have abandoned him in Kuje Prison.

Until his problems started in June this year when he was removed from office by President Bola Ahmed Tinubu, Emefiele was one of the most powerful government officials as Nigeria’s Central Bank governor.

He dished out favour to the low and mighty in the country, relying on his war chest as Nigeria’s number one banker.

The former CBN governor must have chosen to be good to friends and associates while he served as the chief executive of the government-owned bank, with the hope to be paid back in the future.

But, that’s not to be as it’s now clear that the same friends have abandoned him in Kuje Prison, in his time of need.

Following his release on bail last week on November 22, 2023, by Justice Hamza Muazu not a few had expected Emefiele to meet his bail conditions without any hassle.

The bail conditions set by Justice Muazu include a N300 million bond, and two sureties owning properties in Asokoro District, amongst others.

The judge also ordered the former CBN governor to deposit all his travel documents with the court registrar.

Considering the influence he wielded then as Nigeria’s CBN governor, with friends and associates cutting across the business, financial, and government sectors, those watching his trial said Emefiele should not be stranded in Kuje Prison like a common criminal.

Finding sureties to stand for him, they insist, should not be a problem for him.

“Somebody like Emefiele should not be stranded in Kuje Prison looking for those to stand as sureties for him, considering the caliber of friends he had while occupying the position of CBN governor. But, what’s happening to him now is a lesson that no condition is permanent. People only flock around you when you are occupying a top position. Once you are no longer there, you become an orphan,” said Termini Yisau, a public analyst.

Sources close to the Prison told the magazine that Emefiele is highly frustrated that none of his friends has come to his rescue.

“He’s not happy. Imagine him spending more days in prison because no one has come forward to bail him out. He’s particularly unhappy with some of his friends in the banking sector and those in government who he assisted as CBN governor,” a source close to him said on Wednesday.

After his arraignment by the Economic and Financial Crimes Commission, EFCC, on Tuesday, Mathew Burkaa, Emefiele’s lead counsel, told journalists that his client was yet to meet the bail conditions.

With the situation of things, Emefiele is likely to spend the rest of the year in Kuje Prison, those familiar with the detail of the case said.

The trail judge, yesterday, adjourned the trial of Emefiele till January 18 and 19, 2024.

Emefiele was granted bail last week after spending five months in the custody of the Department of State Srvice, DSS and EFCC.

He was sacked on June 9, 2023, by President Bola Ahmed Tinubu, and was picked up a day after by the DSS.

The former CBN boss is under trial for alleged procurement fraud totaling N1.2 billion.

According to the charge sheet, Emefiele was accused of using his position to confer a corrupt advantage on Sa’adatu Yaro, a staff of CBN, by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.

The vehicles included 37 Toyota Hilux at the cost of N854.7 million, one Toyota Avalon at the cost of N99.9 million, one Toyota Landcruiser V8 at the cost of N73.8 million, two Toyota Hilux Shell Specification at the cost of N44,200,000.

He was also alleged to have awarded Yaro a contract for the procurement of two Toyota Landcruiser VXR V8 worth N138 million.

He has pleaded not guilty to the charge.

Meanwhile, sources informed the magazine that the former CBN governor is frantically reaching out to close family members and friends who could assist him in his current situation.

He wants to spend the festive period with his family, sources said.