Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), has condemned what he described as a “media trial” of the former CBN chief, Godwin Emefiele.
Emefiele is facing multiple charges of procurement fraud worth over $1.2 billion following his dismissal by President Tinubu in June.
In addition, the former CBN governor is also recently accused of multiple fraudulent misconducts in a leaked report from a special investigator.
The allegations include abuse of power during his tenure, the violation of the CBN Act of 2007 as well as the stealing of billions of dollars stashed in foreign banks in Europe and America.
Meanwhile, none of these allegations have been verified as the original report reported to have been submitted to President Bola Tinubu on December 9 is yet to be made public.
Taking to his official X (formerly Twitter) account, Moghalu objected to the report purported to be that of the CBN special investigator appointed by Tinubu.
Describing the central bank as a critical institution, he underscored that the level of confidence in it has practical ramifications for Nigeria’s economic landscape.
Meanwhile, Moghalu did not hold back his criticism of Emefiele’s tenure as CBN governor.
According to the ex-deputy governor of the same apex bank, Emefiele is the most damaging CBN governor in the history of Nigeria, describing his actions in approving “Ways and Means“ as brazenly illegal.
The Federal Government arraigned Emefiele on a six-count charge bordering on alleged procurement in November. The original charge, which was 20 counts to the tune of N6.5 billion, was reduced to six, to the tune of N1.6 billion. Emefiele is the only defendant in the new charge.
According to the amended charge sheet, the charges still border on procurement fraud. The Federal Government alleged that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2 billion. He was also accused of awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.
However, the Federal High Court Sitting in Lagos granted him bail in the sum of N30 million with two sureties. Emefiele fulfilled his bail conditions yesterday, 23rd of December, and was released from Kuje Prison.
