How Emefiele approved multi-billion naira contracts for wife, CBN personnel – Investigator

How Emefiele approved multi-billion naira contracts for wife, CBN personnel – Investigator

An investigator from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Agboro Omowera told the Federal Capital Territory High Court on Monday that the embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele and nine other officials at the apex bank were involved in approving multi-billion contracts to his wife, Margaret, brother-in-law and staff of the apex bank, Sa`adatu Ramallan Yaro. 

According to the investigator, nine CBN staff minuted on the documents while Emefiele approved them. 

Omowera told Justice Hamza Muazu that Sa`adatu Ramallan Yaro, a director at April 1616 Investment Ltd, was awarded several contracts by the CBN under the purview of Emefiele, for the supply of over 45 Toyota Hilux Vehicles ranging from N854, 700,000, to N99,900,000. 

He also testified that Emefiele’s wife, Margaret, and his brother-in-law were directors and major shareholders at Architecom Nigeria Ltd, a company that was contracted by the apex bank to renovate the CBN governor’s residence in Ikoyi, Lagos state. 

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What transpired in court

Led in evidence by counsel for the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo SAN, the witness explained that after Emefiele was appointed CBN governor in 2014, the company where his wife owned majority shares started enjoying the patronage of the CBN.  

He added that his investigative team comprising of different agencies including the Department of State Services (DSS), also found out that the husband of Yaro, had other companies but they were not patronised by CBN except the one in which the wife was a director. 

The witness submitted that during its investigation, the embattled governor gave final approval, awarding contracts to the two companies for the supply of vehicles, renovation of the CBN governor’s residence, and provision of power lines. 

How Emefiele approved multi-billion naira contracts for wife, CBN personnel – Investigator