Emefiele spent CBN funds on acquiring armoured buses – FG

The federal government has said that the suspended governor of the Central Bank of Nigeria, Godwin Emefiele, splurged over N2bn on acquiring 10 armoured Mercedes Benz buses while he was in office. The allegation forms part of the government’s claims in the latest corruption suit it filed before the federal high court against Emefiele.

According to the court documents, Emefiele and another official of the bank, Sa’adatu Rammala Yaro, committed procurement fraud in 2018. Yaro, despite her being an employee of the CBN, was equally a director of a private company that provided services to the Bank.

Two of the charges read: “That you, Sa’adatu Rammala Yaro, female, adult, sometime in 2018 within the jurisdiction of this honourable court while being employed at the CBN knowingly held directly a private interest as director in April1616 Investment Ltd., in a contract awarded to the said company, for the supply of 47 Toyota Hilux vehicles at the cost of N1,085, 700,000 and thereby committed an offence.’’

Count 11, “That you, Sa’adatu Rammala Yaro, female, adult, sometime in 2018 within the jurisdiction of this honourable court while being employed at the CBN knowingly held directly a private interest as director in April1616 Investment Ltd., in a contract awarded to the said company, emanating from the CBN where you are employed, for the supply of 10 Mercedes Benz armoured buses at the cost of N2,222, 500,00 and thereby committed an offence.’’

Emefiele is expected to be arraigned on Thursday.