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    Sanwo-Olu to deliver Arewa Think Tank Lecture in Kaduna

    Sanwo-Olu charges governors to empower internal revenue services for improved IGRs

    Nigeria: FG, States, LGs share N2.094trn revenue for October 2025

    Nigeria: FG, states, LGs share N2.036trn revenue for March 2026

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    Nigeria: National Assembly attains 93 days recess in first quarter with latest adjournment to honour of deceased member

    Edun at a forum

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    Nigeria: FG, States, LGs share N2.094trn revenue for October 2025

    What the JAMB candidates’ abduction says about Nigeria

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    43 delegates from 30 British companies complete first trade and investment mission to Nigeria

    43 delegates from 30 British companies complete first trade and investment mission to Nigeria

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    CREATIVE SECTOR: Strong tech-driven growth

    Deejays disown report of Burna Boy’s music ban

    Deejays disown report of Burna Boy’s music ban

    David Offor, famous actor as Clarus in 1970s New Masquerade tv home series, passes away 

    David Offor, famous actor as Clarus in 1970s New Masquerade tv home series, passes away 

    Spotify streams fetch Nigerian artistes N60b in 2025

    Spotify streams fetch Nigerian artistes N60b in 2025

    Grammys 2026: South Africa’s Tyla edges Nigerian artistes with Best African Music Performance

    Grammys 2026: South Africa’s Tyla edges Nigerian artistes with Best African Music Performance

    Actors Guild of Nigeria lifts suspension of  Nollywood actress Halima Abubakar

    Actors Guild of Nigeria lifts suspension of  Nollywood actress Halima Abubakar

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    NFVCB hails Funke Akindele on box office success of ‘Behind The Scene’

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

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    SSANU expresses concern over delays in concluding renegotiation with FG, plans indefinite strike

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    Shell/NNPC, partners, deliver Geosciences Centre of Excellence at University of Lagos

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    Nigeria: FG scales up healthcare access with $150m annual spending on vaccines, N70.6b for primary healthcare expansion

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    HEALTH: Between ambition and reality

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    Nigeria: FG tasks CBPP on vaccination efforts for total eradication of cattle pneumonia

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    Tinubu, Gov Adeleke  celebrate Shola Oshunkeye, award-winning journalist and publisher at 70

    Tinubu, Gov Adeleke  celebrate Shola Oshunkeye, award-winning journalist and publisher at 70

    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    SERAP urges Tinubu to withdraw NBC’s directive targeting broadcasters

    NiRA blames foreign domains for multi-billion naira capital flight

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    NiRA blames foreign domains for multi-billion naira capital flight

    NiRA blames foreign domains for multi-billion naira capital flight

    Dangote, Pope Leo XIV, Trump, Xi Jinping, others named in TIME 100 Most Influential People for 2026

    Dangote, Pope Leo XIV, Trump, Xi Jinping, others named in TIME 100 Most Influential People for 2026

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    MTN Nigeria opens applications for 5th Media Innovation Programme

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    MEDIA: Digital platforms reshaping consumption

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    Nigeria: EFCC boss tasks media on reportage of anti-corruption fight

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    Nigerian Breweries confirms brewers’ return to profitability in 2025

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    Guinness Nigeria credits renewed confidence of investors in long-term prospects for ₦1trn market capitalisation

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    Sanwo-Olu to deliver Arewa Think Tank Lecture in Kaduna

    Sanwo-Olu charges governors to empower internal revenue services for improved IGRs

    Nigeria: FG, States, LGs share N2.094trn revenue for October 2025

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  • Entertainment
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    CREATIVE SECTOR: Strong tech-driven growth

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    David Offor, famous actor as Clarus in 1970s New Masquerade tv home series, passes away 

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    Spotify streams fetch Nigerian artistes N60b in 2025

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    Grammys 2026: South Africa’s Tyla edges Nigerian artistes with Best African Music Performance

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    Actors Guild of Nigeria lifts suspension of  Nollywood actress Halima Abubakar

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    NFC congratulates Funke Akindele as film ‘Behind The Scenes’ grosses over N2b at the box office

    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    Tinubu salutes Rema, Burna Boy, Shallipopi, others as Nigeria shines at 9th AFRIMA

    • Life
    • Art & Culture
    • LIFE & CULTURE
  • Education
    Taxing, Borrowing the Future Without Building: What has Nigeria’s fiscal authority done for the real sector?

    Tinubu makes new appointments in education sector

    Nigeria: FG moves to establish Armed Forces Medical College

    Nigeria: UBEC unlocks over N100b to revitalize foundational learning sector

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    SSANU expresses concern over delays in concluding renegotiation with FG, plans indefinite strike

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    Nigeria: FG scales up healthcare access with $150m annual spending on vaccines, N70.6b for primary healthcare expansion

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    • Health and Fitness
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    Tinubu, Gov Adeleke  celebrate Shola Oshunkeye, award-winning journalist and publisher at 70

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    NiRA blames foreign domains for multi-billion naira capital flight

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    Nigerian Breweries confirms brewers’ return to profitability in 2025

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    Guinness Nigeria credits renewed confidence of investors in long-term prospects for ₦1trn market capitalisation

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Home Law

EFCC to arraign Emefiele over naira swap policy, unlawful withdrawal of N124.8b, other fresh charges May 15

by Worldstage News
April 30, 2024
in Law
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WorldStage Newsonline– The Economic and financial Crimes Commission (EFCC) will on May 15 arraign the suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele in a Federal Capital Territory court on three counts amended charge.

In the fresh charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

The arraignment was earlier slated before justice Maryann Anenih.

However, all the parties were not present in  court when the matter with case number: CR/264/2024 was called.

The court said that the prosecution sent a letter seeking for adjournment because Emefiele was standing trial in another court in  Lagos.

The judge therefore adjourned until May 15 for the arraignment.

Emefiele is also standing trial before Justice Hamza Muazu of FCT high court on an alleged 20-count amended charge, preferred against him by the Economic and financial Crimes Commission (EFCC).

He was alleged to have engaged in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence, when he served as the apex bank’s boss.

Justice Olukayode Adeniyi of a Federal Capital Territory (FCT) high court also on Jan. 8 awarded N100 million damages to suspended former governor of the central bank of Nigeria (CBN) against the federal government and Economic and financial Crimes Commission (EFCC) for violations of his right.

Adeniyi further restrained the federal government and it’s agents from arresting Emefiele unless an order was obtained through a competent court.

The judge held that the respondents need not incarcerate the applicant in other to carry out investigation for a long period as against the provisions of the law.

” No material placed before the court to show that the release of the applicant will in any way interfere with the investigation of allegations preferred against him.

The embattled Emefiele had dragged the Federal Government, Attorney-General of the Federation (AGF), Executive Chairman, Economic and Financial Crimes Commission (EFCC) and the Commission before the court to enforce his fundamental rights to life, personal liberty, fair hearing and freedom of movement.

Emefiele sought a declaration of the court that his continued detention by the agency of the first and second respondents since June 10, 2023 and subsequent transfer to the custody of the third and fourth respondents on October 26, 2023 without being arraigned in court is unlawful.

He said the respondents in deviance of several valid subsisting court orders for his release amounts to a grave violation of his fundamental rights to life, personal liberty, as guaranteed by the 1999 Constitution of Nigeria (as amended) and the African Charter on Human and Peoples’ Rights.

Tags: CBNEFCCGodwin Emefiele
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