Former Central Bank Governor, Godwin Emefiele, is set to be released from the custody of the Department of State Services (DSS) following a plea bargain arrangement with the administration of President Bola Tinubu. The non-prosecution plea bargain hinges on Emefiele’s commitment to return N50 billion, which he had allegedly amassed through corrupt means.
Sources indicate that the Minister of Justice and Attorney-General of the Federation (AGF), Lateef Fagbemi, has signed the non-prosecution plea bargain agreement, pending approval from President Tinubu.
Emefiele had previously faced 20 counts of conspiracy and procurement fraud charges filed against him by the Nigerian government. He appeared in court on August 17, 2023, under tight security.
The alleged corrupt practices under investigation involve the discovery of N72 billion in various accounts linked to Emefiele, intended for his presidential campaign. Additionally, investigators uncovered $70 million hidden with individuals who specialized in facilitating round-tripping schemes.
Furthermore, Emefiele’s connection to the ownership of Polaris Bank and several other banks, which he allegedly used proxies to establish, has been traced by federal investigators.
Earlier reports had noted the arrest of Aminu Yaro and his wife, Saadatu Yaro, in connection with investigations into Emefiele’s alleged infractions. The arrest was linked to a forex differential fraud case.
In August, the fundamental rights enforcement suit filed against the DSS and the AGF by Emefiele’s siblings was withdrawn. The case was struck out by the vacation judge, Justice Emmanuel Okpe, after the applicants informed the court of their decision to discontinue the case.
Former Central Bank Governor Emefiele’s trial at the High Court of the Federal Capital Territory (FCT) faced delays due to his pursuit of a plea bargaining arrangement with the prosecution team. The former CBN governor has reportedly opted for plea bargaining in an effort to secure a more favorable resolution of the case. Source and visit thedailycourierng for more news