The Economic and Financial Crimes Commission (EFCC) has accused Godwin Emefiele,former Central Bank of Nigeria (CBN) Governor, of illegally acquiring 753 housing units and misappropriating public funds.
Emefiele is facing charges of theft and the unlawful acquisition of high-value properties in Abuja.
The anti-graft agency alleges that, during his tenure, Emefiele funneled billions of naira through proxy accounts to discreetly control a total of 753 housing units tied to the investigation.
In a new eight-count charge filed on Friday at the High Court of the Federal Capital Territory, Abuja, the EFCC accused Emefiele of illegally acquiring an estate comprising 753 housing units and of holding billions of naira in proxy accounts during his time in office.
The EFCC alleged that Emefiele acted in collusion with Eric Ocheme, who is currently at large, to secure the properties in August 2021.
The estate, which spans 150,462.86 square metres, is situated at Plot 109, Cadastral Zone C09, Lokogoma District in Abuja, and consists of 753 housing units.
Although the ownership of the estate was not initially disclosed, the EFCC had previously secured a court order to take possession of it. The commission formally handed the estate over to the federal government last week.
Emefiele had filed an appeal at the Court of Appeal in Abuja, seeking to overturn a court judgment that granted the federal government ownership of a disputed estate in Abuja consisting of 753 housing units.
In newly filed charges, EFCC alleged that Emefiele, while serving as CBN governor, deposited N167 million into a proxy account with Zenith Bank between January and December 2019. The commission believes the funds were unlawfully obtained.
The EFCC further claims that between January and December 2020, Emefiele and an accomplice, Eric Ocheme—who is currently on the run—kept N1.23 billion in an account under the name Kelvito Integrated Services (Account No. 1016232915) at Zenith Bank. The funds are also suspected to be of illicit origin.
In one of the charges (Count Four), the anti-corruption agency alleged that the duo maintained control over N2.95 billion in the same Kelvito account in 2021, a sum also suspected to be illegally acquired.
By 2022, prosecutors say, Emefiele and his co-conspirator continued to control N1.98 billion in that same account. Additionally, he is accused of keeping N900 million in an account under Ifedigo Integrated Services (Account No. 1210750237), also with Zenith Bank, which the EFCC similarly suspects was unlawfully obtained.
Another count accuses Emefiele of retaining N600 million in the Ifedigo account, again believed to be illicit funds.
Emefiele served as CBN governor from 2014 until June 2023, when he was removed by President Bola Tinubu and later arrested by the State Security Services (SSS). He tendered his resignation while in custody.
Beyond this case, Emefiele faces additional corruption trials in both Lagos and Abuja. In Lagos, he is charged in connection with an allegedly fraudulent $2 billion foreign exchange allocation.
The EFCC has also accused him of criminal conspiracy, abuse of office, conferring undue advantage, and breach of trust. Emefiele, however, continues to deny all allegations.
One of the more serious allegations includes forgery. The EFCC claims that in January 2021, Emefiele forged a document titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited” and falsely presented it as being authorized by H and Y Business Global Limited.
These actions, according to the EFCC, violate sections 319, 362, and 364 of the Penal Code.
To support its case, the commission says it has called 24 witnesses to testify on the acquisition and development of the estate at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, which spans over 150,000 square meters. The witnesses are also expected to present documents relevant to the case.
Meanwhile, Emefiele also faces legal proceedings related to the controversial redesign of the naira and other alleged misconduct during his tenure as CBN governor.
