Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN), is reportedly seeking a plea bargain in the criminal case filed against him by the federal government. Emefiele is facing a 20-count charge, including alleged conspiracy to commit procurement fraud. He is co-accused with Sa’adatu Yaro, a CBN employee, and a firm named April1616 Investment Ltd.
The arraignment, originally scheduled for August 17, was postponed due to the absence of Sa’adatu Yaro, and the case has been rescheduled for August 23. Neither Emefiele nor Yaro were present during the court session, and the case was not listed on the court's schedule.
Sources indicate that Emefiele is proposing a plea bargain, and the federal government is open to this arrangement. If a plea bargain is reached, Emefiele is expected to resign as CBN governor and "disgorge" certain assets. As per the Central Bank Act 2007, the president cannot directly remove the CBN governor. However, the law allows the governor to resign by providing three months' notice in writing to the president.
Emefiele was suspended on June 9 by President Bola Tinubu and was subsequently placed in the custody of the Department of State Services (DSS) for investigative reasons. He had been arraigned on charges of "illegal possession" of firearms, but the federal government later withdrew the charge. Emefiele's legal situation continues to evolve, and he is reportedly exploring a plea bargain to resolve the ongoing case.
Source: The Cable
The arraignment, originally scheduled for August 17, was postponed due to the absence of Sa’adatu Yaro, and the case has been rescheduled for August 23. Neither Emefiele nor Yaro were present during the court session, and the case was not listed on the court's schedule.
Sources indicate that Emefiele is proposing a plea bargain, and the federal government is open to this arrangement. If a plea bargain is reached, Emefiele is expected to resign as CBN governor and "disgorge" certain assets. As per the Central Bank Act 2007, the president cannot directly remove the CBN governor. However, the law allows the governor to resign by providing three months' notice in writing to the president.
Emefiele was suspended on June 9 by President Bola Tinubu and was subsequently placed in the custody of the Department of State Services (DSS) for investigative reasons. He had been arraigned on charges of "illegal possession" of firearms, but the federal government later withdrew the charge. Emefiele's legal situation continues to evolve, and he is reportedly exploring a plea bargain to resolve the ongoing case.
Source: The Cable
