General
Court Adjourns Emefiele N1.6bn Fraud Case To January 2024
By Adedapo Adesanya
A Federal Capital Territory High Court, Abuja, has adjourned an alleged procurement fraud case involving ex-Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to January 18 and 19, 2024, for continuation of trial.
Mr Emefiele is standing trial on a six-count amended charge on alleged procurement of vehicles to the tune of N1.6 billion.
He had pleaded not guilty to the charges.
He was granted bail on November 17, 2023, to the tune of N300 million, and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions.
However, Business Post gathered that the banker has not been able to meet the conditions to gain his freedom.
At the resumed hearing, the Prosecution Witness, who is a top official of the Corporate Affairs Commission (CAC) told the court that Mr Emefiele was not the owner or a shareholder of the April1616 Investment Limited, awarded N1.2 billion vehicle supply contract by CBN under Mr Emefiele.
He was led in evidence by EFCC lawyer, Mr Rotimi Oyedepo, while tendering several documents on how the company was incorporated on August 1, 2016.
He further read out the names of the shareholders of the Company which comprises Mr Aminu Yaro, Mrs Maryam Abdullahi, and Mrs Saadatu Yaro as joint owners of the entity.
Mr Emefiele’s lawyer, Mr Mathew Burkaa, who declined to speak on camera, said his client is yet to meet his bail conditions. But the former CBN governor was in court.
The Counsel for the Economic and Financial Crimes Commission (EFCC) and the Federal Government declined to speak on the day’s proceedings.
Recall that earlier this month, the federal government arraigned Mr Emefiele on a six-count charge bordering on alleged fraudulent procurements.
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.
According to the amended charge sheet, the charges still border on procurement fraud.
The prosecutors alleged that Mr 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.
He was also accused of conferring a corrupt advantage contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000 by awarding a contract for the supply of one Toyota Landcruiser V8 April 1616 Investment Ltd., in 2019 at the cost of N73 million among others.
General
World Banks Debar Three PwC Subsidiaries for 21 Months Over Project Fraud
By Adedapo Adesanya
Three African subsidiaries of global advisory firm, PricewaterhouseCoopers (PwC), have been debarred by the World Bank Group for 21 months after being found guilty of manipulating procurement processes for a major cross-border electricity project.
In a statement on Wednesday, the Washington-based multilateral lender said PricewaterhouseCoopers Associates Africa Ltd, based in Mauritius, along with its Kenyan and Rwandan affiliates, engaged in “collusive and fraudulent practices” linked to the Eastern Electricity Highway Project, a flagship initiative to transmit hydropower from Ethiopia to Kenya.
The decision sidelines PwC from lucrative World Bank-funded projects on the continent, dealing a blow to one of the region’s most influential audit and advisory firms.
This development could reshape competition for high-value consulting work across emerging markets, potentially disrupting startups and tech firms reliant on World Bank funding, as scrutiny over governance and compliance tightens.
The World Bank, through its private sector arm, International Finance Corporation (IFC), offers grants and low-interest loans to startups across emerging markets.
Earlier this week, the IFC committed $20 million to invest in high-growth startups in Kenya, Nigeria, and South Africa.
“The debarment makes PwC Associates, PwC Kenya, PwC Rwanda, and any affiliates they control ineligible to participate in Bank Group-financed projects and operations,” the World Bank said. “It is part of a settlement agreement under which the three companies admit culpability for sanctionable practices.”
The determination was based on the company’s conduct between 2019 and the award of contracts for consultancy services and asset valuation work for the Ethiopian state power utilities.
According to the World Bank statement, the firm obtained confidential procurement documents to improperly influence the award of a contract for the implementation of International Financial Reporting Standards at the Ethiopian Electric Power Corporation.
They also attempted to steer a separate contract for a fixed asset inventory and revaluation for the power utility towards PwC Associates. During the bidding and execution of that contract, the bank found that the company misrepresented the availability and qualifications of key experts and failed to disclose the full list of subconsultants involved.
According to the World Bank, the debarment is shorter than would otherwise apply because PwC admitted misconduct. The advisory firm also agreed to a series of remedial measures, including internal investigations, disciplinary action against responsible staff, terminating relationships with all subconsultants involved, and additional staff training.
General
Nigerians Can Film Police on Duty—Court Declares
By Aduragbemi Omiyale
A Federal High Court in Warri, Delta State, has affirmed the right of Nigerians to film personnel of the Nigeria Police Force (NPF) on duty.
The judgment was given by Justice H. A. Nganjiwa on Tuesday in a case filed by Mr Maxwell Uwaifo in suit number FHC/WR/CS/87/2025.
The court held that Nigerians have the constitutional right to use any device to record police officers executing their official duties in public.
It was ruled that police officers must wear visible name tags, display their force numbers, and must not harass, intimidate, arrest, or seize devices from citizens documenting their activities.
The court awarded the applicant N5 million in damages for the violation of his fundamental rights and N2 million for the cost of litigation.
Business Post reports that the respondents in the case were the Inspector General of Police (IGP), the NPF, the Police Service Commission (PSC), and the Attorney-General of the Federation (AGF).
The lawyer filed the case in accordance with Sections 34, 35, 36, 37, 38, 39, 40, and 41 of the Constitution of Nigeria and others.
“This judgement has significant implications for policing standards, civil liberties, and public accountability across Nigeria,” Mr Uwaifo said after the judgement.
General
Lagos Consumes 30% of Total Power Off-Take in Nigeria—TCN
By Aduragbemi Omiyale
The General Manager in charge of Transmission for Lagos Region of the Transmission Company of Nigeria (TCN), Mr Adeshina Adeonipekun, has stressed the critical role of Lagos in the national grid.
While receiving the chief executive of Eko Electricity Distribution Company (EKEDC), Ms Wola Joseph Condotti, at his office on Monday, he said the Lagos region accounts for about 30 per cent of total power off-take in Nigeria.
He stated that TCN was implementing strategic expansion and project upgrades aimed at enhancing grid stability and operational efficiency in response to rising demand.
Mr Adeonipekun highlighted recent key milestones achieved in the region, including the commissioning of a 100MVA power transformer at the Ijora 132/33kV Transmission Substation, a 300MVA transformer at the Lekki 330/132kV Transmission Substation, and a 125MVA unit at the Agbara 132/33kV Substation, among others.
According to him, these additions have further increased the region’s installed capacity to 5,470MVA on the 132/33kV network and 4,110MVA on the 330/132kV network.
He further said that there were several ongoing rehabilitations at key substations within the region, including Amuwo GIS, Akoka 132/33kV, and Itire 132/33kV Transmission Substations, all geared towards further improving reliability, reducing system constraints, and enhancing the overall efficiency of power delivery.
In her remarks, Ms Condotti expressed appreciation for TCN’s continued partnership and support, underscoring the importance of sustained collaboration between transmission and distribution companies in building a more stable and efficient electricity transmission and supply network.
Both parties explored ways to strengthen collaboration and ensure a more stable and efficient power supply in Lagos, the nation’s commercial hub.
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