Emefiele weeps Badly as arraignment for fraud stalls

Emefiele weeps as arraignment for fraud stalls

Former CBN Governor Godwin Emefiele Weeps in Court Amidst Adjournment of Arraignment.

In a dramatic turn of events, the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, was seen shedding tears inside the courtroom as the High Court of the Federal Capital Territory announced the adjournment of his arraignment to August 23, 2023.

Read Also Naira’s Plunge Against Dollar Continues Amidst FG $3bn Loan

The emotional display came after the case was stalled due to the absence of co-defendant Sa’adatu Yaro, in a high-profile corruption and conspiracy case brought against them by the Federal government.


The accusations centered around Emefiele, Yaro, and the entity known as April 1616 Investment Ltd, who were collectively charged with engaging in conspiracy and procurement fraud.

Furthermore, the former CBN Governor was accused of conferring corrupt advantages upon his associates, most notably Yaro, purportedly a Director in April 1616, to the staggering tune of N6.9 billion.

Read Also CBN Official Naira to Dollar exchange rate today August 17, 2023


As the proceedings unfolded before the vacation judge, Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court, Emefiele was visibly distraught by the adjournment.


He was seen wiping away tears, with some of his lawyers offering him consolation during the trying moment. The suspension of the proceedings led to the return of Emefiele into the custody of the Department of State Services (DSS) officials, who had brought him to court under stringent security measures.

The absence of co-defendant Sa’adatu Yaro significantly impacted the progress of the case, resulting in the postponement. The implications of these charges and their potential consequences on the Nigerian financial landscape continue to loom large.

Godwin Emefiele
Godwin Emefiele weeping

With the arraignment rescheduled for a later date, legal experts and analysts are closely monitoring the situation, speculating on the possible outcomes and the implications for the Nigerian judicial system, as well as the broader economic sphere.



Please enter your comment!
Please enter your name here