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Again, Emefiele’s Arraignment Stalls

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Godwin Emefiele Naira

By Adedapo Adesanya

The case of the suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, over an alleged fraudulent procurement worth N6.9 billion, has again been stalled.

According to Channels Television, the matter was not listed on the cause list of a Federal Capital Territory (FCT) High Court in Abuja on Wednesday with no reason given as lawyers to both parties were absent in court.

Business Post had reported that the embattled banker appeared before the court last Thursday and was supposed to be arraigned, but the arraignment was stalled due to the absence of the second defendant, who was said to have been indisposed.

Although Mr Emefiele (the first defendant) was present in court, the second defendant, a female CBN employee, Mrs Sa’adatu Yaro, was not in court.

The Presiding Judge, Justice Hamza Muazu, adjourned the matter to August 23, 2023, after he granted an application for adjournment.

The embattled apex bank chief, who has been in detention since he was suspended from office on June 9, 2023, was accused of conferring corrupt advantages on Mrs Yaro, a director in April 1616 Investment Limited.

The offence is contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000, which states that, “Any public officer who uses his office or position to gratify or confer any corrupt or unfair advantage upon himself or any relation or associate of the public officer or any other public officer shall be guilty of an offence and shall on conviction be liable to imprisonment for five years without an option of fine.”

In the charges signed by the Director of Public Prosecutions, Federal Ministry of Justice, Mohammed Abubakar; Deputy Director, Public Prosecution, Mrs Nkiru Jones-Nebo and eight other ministry officials, the three accused persons were alleged to have bought a fleet of over 98 exotic vehicles and armoured buses valued at about N6.9 billion.

Some of the vehicles bought between 2018 and 2020 included 84 Toyota Hilux vehicles, 10 armoured Mercedes Benz buses, three Toyota Landcruisers and one Toyota Avalon car.

Mr Emefiele was said to have also conferred a corrupt advantage on Mrs Yaro by awarding a contract for the supply of one Toyota Avalon at the cost of N99.9m to her company, April 1616 Investment Ltd., in 2019.

The suspended governor was also accused of awarding a contract for the supply of another Toyota Landcruiser V8 for N77.050m to the third defendant in 2018.

The ex-CBN governor was said to have conspired with Mrs Yaro to confer corrupt advantages on the CBN staffer by awarding her a contract for the supply of two Toyota Hilux Shell specification vehicles at the cost of N44.2 million sometime in 2020.

He was further alleged to have awarded another contract to Mrs Yaro and her firm for the purchase of one Toyota Landcruiser VXR valued at N96m in 2020.

Mrs Yaro was similarly accused of fraudulent acquisition of property for getting a contract from the CBN for the supply of 47 Toyota Hilux vehicles at the cost of N1,085,700,000 and thereby committed a punishable offence.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Tinubu Not Missing in Action, Absence Remains Temporary—Presidency

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Tinubu address nation

By Modupe Gbadeyanka

The presidency has informed that Nigerians that the absence of President Bola Tinubu remains temporary and was not missing in action.

In a statement on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, it was disclosed Mr Tinubu should return to the country next week.

Some days ago, President Tinubu left the shores of the country for a “working visit” to France but later left the European nation for the United Kingdom at the weekend.

In the statement today, Mr Onanuga said his boss “remains fully engaged in Nigeria’s governance even though he is away in Europe.”

According to him, “His absence remains temporary and in line with the communicated timeframe of approximately two weeks.”

The spokesman said Mr Tinubu “has maintained constant communication with key government officials, overseeing critical national matters, including directives to security chiefs to address emerging threats in some parts of the country.”

“His return to Abuja and the resumption of duties at Aso Villa will follow the conclusion of the Easter holiday,” he declared.

“The President’s commitment to his duties remains unwavering, and his administration continues to function effectively under his leadership.

“We appreciate the public’s concern and assure all Nigerians that governance proceeds without interruption,” the statement noted.

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Dangote’s N16bn Food Programme Triggers Excitement in FCT, Kogi

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Dangote food FCT Abuja Kogi

By Modupe Gbadeyanka

Residents of the Federal Capital Territory (FCT) Abuja and Kogi State could not hide their joy recently over the distribution of some food items to them by the Aliko Dangote Foundation (ADF).

The N16 billion Annual National Food Intervention programme was launched last month by the organisation to support the poor and the vulnerable persons across Nigeria.

At the flag off on Tuesday in Abuja, the Senior Special Adviser to the President of Dangote Group, Ms Fatima Wali Abdurrahman, said 10,000 bags of 10kg rice were donated to the FCT for distribution to the beneficiaries.

According to her, the initiative is to support governments at all levels to cushion the effects of economic challenges in the country, noting that it started in 2024 when the company donated food worth N15 billion to all the 774 Local Government Areas in the country.

She described her boss, Mr Aliko Dangote, as someone who is passionate about giving back to society, especially the needy.

Also speaking at the event, the Minister of the FCT, Mr Nyesom Wike, who was represented by Ango Abdullahi Suleiman, said the government appreciates Mr Dangote’s gesture, saying the businessman has contributed enormously to the economic development of Nigeria, while promising to ensure that the food items reach the poor.

In Kogi State, the Commissioner for Humanitarian Affairs and Poverty Alleviation, Mrs Rabietu Okute, said 40,000 bags of 10kg rice have been received from the ADF and distributed to the poor and vulnerable persons in the state.

On the distribution process, she explained that it followed Governor Ahmed Usman Ododo’s directive, with a committee set up to ensure the food items reach vulnerable residents across the state.

Mrs Okute stated that the distribution was flagged off in the state on March 26, 2025.

“We shared the 40,000 bags of rice through the 21 Local Government Areas. The LGAs also shared the product to the 239 wards.

“Before this, a committee of 12 persons per Local Government was set up, and the state government moblized the committees. The products were distributed to vulnerable groups like the union of disabilities and the 23 orphanages in the state,” she said.

In his remarks, the General Manager for Community Affairs and Special Duties at Dangote Cement Plc, Mr Ademola Adeyemi, who supervised the distribution on behalf of ADF, said the food donation to Kogi would further boost the relationship between the company and the state.

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Afreximbank Disburses $50bn to Nigeria in 19 Years

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Afreximbank

By Adedapo Adesanya

The Africa Export-Import Bank (Afreximbank) disbursed $50 billion for the execution of various projects in Nigeria in the last 19 years, the President of the Cairo-based lender, Mr Benedict Oramah, disclosed at the commissioning of the Afreximbank Africa Trade Centre (AATC) in Abuja.

At the event, he also reaffirmed the bank’s vision to dismantle trade barriers and promote African market integration.

“Over the last decade alone, total disbursements into Nigeria amounted to about 50 billion US dollars, spreading across vital sectors of energy, infrastructure, manufacturing, healthcare, transport and financial services.

“Our support to the Nigerian financial services industry, amounting to 19 billion US dollars in the last decade, has helped to deepen and expand the sector and elevated their impact on the local economy,” he stated.

The Afreximbank president, who hinted at the establishment of other AATCs in Harare, Kampala, Cairo, and Yaoundé, described the relationship between the bank and Nigeria as mutually beneficial.

“Over the last three decades, successive governments have accorded unflinching support to Afreximbank, responding most positively to capital calls, creating a congenial environment for its smooth operations while providing the Bank significant domestic policy support that helped to execute many of the development programmes in Nigeria.”

Mr Oramah pledged to expand the influence of the Africa Export-Import Bank across the Atlantic, with AATCs in the Caribbean, adding: “We must reshape our future.”

“We mark the standing up of an edifice that defiantly roars: that we must reshape our future; that we can no longer be hostages to a colonial legacy deeply rooted on ‘divide-and-conquer’ — a legacy that makes Africans regard their colonisers as masters and brothers and sisters, as enemies, and even aliens,” he said of the commissioning of the Abuja AATC.

The launch of the Abuja centre underscores Nigeria’s commitment to economic growth and development, positioning the country as a leader in shaping Africa’s economic future.
Representing President Bola Ahmed Tinubu at the launch, the Secretary to the Government of the Federation, Mr George Akume, underscored the centre’s role in driving economic diversification, job creation, and access to finance, particularly for SMEs and women-led businesses.
He emphasised the importance of the initiative in advancing Nigeria’s economic agenda, adding that as the African Trade Centre begins operations, Nigerians and Africans alike can look forward to a brighter economic future, driven by increased trade, investment, and regional collaboration.
The initiative is poised to play a pivotal role in driving economic diversification, job creation, and sustainable development, cementing Nigeria’s position as a leader in Africa’s economic landscape.
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