Court nullifies Emefiele’s plea against jurisdiction in $4.5bn fraud case

An Ikeja Special Offences Court has dismissed the application filed by former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, challenging its jurisdiction to hear the $4.5 billion and ₦2.8 billion fraud charges brought against him by the Economic and Financial Crimes Commission (EFCC).

Justice Rahman Oshodi delivered the ruling on Wednesday, affirming the court’s jurisdiction over counts eight to 26 in the EFCC’s case against Emefiele. The judge referenced applicable legal authorities and evidence contained in the case file to support the decision.

However, the court struck out counts one to four, which focused on allegations of abuse of office through the allocation of foreign exchange without competitive bidding. Justice Oshodi ruled that these actions were not punishable under Nigerian law, rendering the counts invalid.

The EFCC had accused Emefiele of various financial crimes, including alleged mismanagement of funds and abuse of power during his tenure as CBN Governor.

“Allocation of foreign exchange without reason is not defined as an offence in any written law.

“The objection to counts one to four succeeds and is hereby struck out. The objection challenging the court’s territorial jurisdiction over counts eight to 26 fails and is hereby dismissed. The prosecution has established sufficient territorial nexus in this case,” he declared.

The judge subsequently adjourned the trial to February 24, 2025, for continuation.

Details later…