Former Central Bank of Nigeria Governor Godwin Emefiele, has been remanded in custody pending a bail hearing scheduled for Wednesday, November 22. Emefiele, the sole defendant in the amended charge, appeared in court on Friday to plead not guilty to the reduced charges and apply for bail.

The Federal Government has reduced the charges against Emefiele from 20 counts to six, with the total alleged procurement fraud amount lowered from N6.5 billion to N1.6 billion.

According to Channels TV, the amended charge sheet details allegations of procurement fraud, specifically stating that Emefiele illegally purchased 43 vehicles worth N1.2 billion between 2018 and 2020. Additionally, he is accused of awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.

Count one of the charge sheet specifically accuses Emefiele of “using his position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa’adatu Ramallan Yaro, a staff of the Central Bank of Nigeria by awarding a contract for the supply of 37 Toyota Hilux Vehicles at the cost of N854,700,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”

Similar accusations are made in subsequent counts, alleging that Emefiele used his position to corruptly benefit Yaro and April1616 Investment Ltd through the procurement of additional vehicles.

Justice Hamza Muazu of the Federal Capital Territory High Court adjourned the case until November 22 for a ruling on Emefiele’s bail application and November 28 for the commencement of the trial. In the interim, Emefiele was remanded at the Kuje Correctional Centre.