By DAYO ADESULU
Counts 1–4 Dismissed in Preliminary Ruling
A Lagos High Court in Ikeja, presided over by Justice Rahman Oshodi, on Wednesday dismissed four charges of alleged abuse of office brought against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The charges were part of a broader 26-count $2.1 billion fraud case filed by the Economic and Financial Crimes Commission (EFCC).
In his ruling, Justice Oshodi held that the allocation of foreign exchange without a bidding process, which formed the basis of counts 1–4, did not constitute a punishable offense under Nigerian law.
“Allocation of foreign exchange without reason is not defined as an offense in any written law,” the judge stated, striking out the charges.
Court to Proceed With Other Charges
While dismissing the abuse of office allegations, Justice Oshodi ruled that the court retains jurisdiction to hear the remaining charges. He cited relevant statutory and constitutional provisions to justify the continuation of the trial for counts 8–26.
The judge dismissed Emefiele’s application challenging the court’s jurisdiction, noting that the EFCC had provided sufficient evidence to establish territorial jurisdiction for these counts.
Next Steps in the Case
The case, which involves allegations of fraud totaling $2.1 billion, will now proceed to trial. Justice Oshodi adjourned the matter until February 24, 2025, for the continuation of proceedings.
Key Takeaways
- Dismissed Charges: Counts 1–4, involving foreign exchange allocations, struck out as non-punishable under Nigerian law.
- Remaining Allegations: The court will hear the remaining 18 charges, including fraud and financial misconduct.
- Next Court Date: February 24, 2025, for trial continuation.
