An investigator with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Agboro Omowera, revealed startling details before a federal capital territory (FCT) high court in Maitama, Abuja. Omowera, serving as a witness for the Economic and Financial Crimes Commission (EFCC), implicated ten officials of the Central Bank of Nigeria (CBN), including former governor Godwin Emefiele, in the approval of multi-million naira contracts to two companies.
Emefiele faces a 20-count amended charge, including alleged criminal breach of trust, forgery, procurement fraud, and conspiracy to commit a felony. The EFCC alleges that Emefiele used his position to benefit April 1616 Investment Limited, owned by Saadatu Yaro, a CBN staff, and Architekon Nigeria Limited.
The former CBN governor is further accused of favoring his wife, Margaret, and brother-in-law by approving payments for Architekon Nigeria Ltd, where they both serve as directors. While Emefiele did not directly award contracts to himself, evidence suggests his wife’s company received favorable treatment from the CBN under his leadership, starting in 2014.
Omowera, the seventh prosecution witness, pointed out that although multiple officials were involved in approving the contracts, Emefiele bears responsibility as the head of the CBN. He explained that as the leader, Emefiele ultimately holds accountability for decisions made within the institution.
In response to queries regarding why Emefiele alone faces trial despite the involvement of other CBN officials, Omowera emphasized the hierarchical structure of the institution. “He is the head of the CBN, and the buck stops on his table,” Omowera asserted, underscoring the principle of leadership responsibility.
As the trial progresses, these revelations shed light on alleged corruption within Nigeria’s financial sector, raising questions about accountability and integrity at the highest levels of governance.
