Suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has reportedly chosen to pursue a plea bargain in connection to the alleged N6.69 billion fraud case against him.
According to The Nation, the terms of this settlement involve Emefiele relinquishing any questionable assets and illicit funds attributed to him, although the presence of such funds remains uncertain.
In addition to surrendering assets and funds, Emefiele is expected to temporarily step down from his role as CBN governor, allowing the government to appoint a permanent replacement. Furthermore, Emefiele and his family members will withdraw all ongoing court proceedings.
Recently, an Abuja Court dismissed a lawsuit filed by Emefiele against his detention, and his siblings withdrew their suits against the Department of State Service (DSS) and the Attorney-General of the Federation (AGF).
It’s believed that influential individuals in Nigeria advocated for Emefiele to offer a plea bargain, which reportedly has both legal and political implications to safeguard the economic goals of President Bola Ahmed Tinubu’s administration.
Emefiele faces accusations of violating procurement laws in relation to N6.9 billion. Concerned about protracted legal proceedings, Emefiele and his family weighed their options and decided on a plea bargain. The terms of settlement are being negotiated between Emefiele’s legal team and the Federal Government’s legal representatives.
A source indicated that Emefiele’s choice of plea bargain aligns with his desire to avoid lengthy trials. He will likely forfeit any suspicious assets and funds identified by law enforcement and anti-graft agencies. Additionally, Emefiele is anticipated to step aside from his CBN role, potentially through resignation or compulsory retirement, enabling the government to appoint a new governor and avoid the challenges faced during the removal of a previous CBN governor.
At Friday proceedings, Emefiele’s counsel, Mathew Burkaa SAN, moved the application for bail but the FG counsel, Rotimi Oyedepo vehemently opposed granting bail to the former CBN governor.
The presiding judge, Justice Hamza Muazu said a bench ruling could not be delivered in view of the plethora of authorities cited by the two parties.
The Judge said he needed a little time to study the authorities and peruse through the exhibits supplied by Emefiele to support his request for bail.
He, however, ordered that Emefiele be remanded at the Kuje prison pending the determination of his bail application.
(Source: The Nation)
