According to Reports Former CBN Governor Emefiele Spent ₦1.2 Billion on 43 Cars .uk

According to Reports, Former CBN Governor Emefiele Spent ₦1.2 Billion on 43 Cars.

Posted by

According to a Channels News report, the Nigerian government has accused Mr. Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), of spending N1.2 billion on 43 cars between 2018 and 2020.

Emefiele, the only defendant, showed up in court and entered a not-guilty plea.

Alleged procurement fraud was at the center of the charges.

Specifically, Emefiele was accused of spending N1.2 billion fraudulently on 43 automobiles between 2018 and 2020. A deal for 37 Toyota Hilux vehicles, valued at N854 million, was also allegedly awarded to him.

An accusation against Emefiele states that he improperly awarded a contract worth N854,700,000 to April 1616 Investment Ltd., of whom CBN employee Sa’adatu Ramallan Yaro was a director.

Similar allegations were made regarding the awarding of an N99,900,000 Toyota Avalon and an N73,800,000 Toyota Landcruiser V8 to the same company.

Two Toyota Hilux Shell Specification Vehicle contracts worth a total of N44,200,000 in 2020 were allegedly awarded to Yaro.

A decision on Emefiele’s bail application has been postponed until November 22, and the trial has been set to begin on November 28. Meanwhile, the court ordered Emefiele’s remand at the Kuje Correctional Center.

The information provides the following breakdown of the vehicles and their estimated prices:

First, 854,700,000 worth of 37 Toyota Hilux vehicles

Valued at $99,900 is this 2008 Toyota Avalon.

Thirdly, a single V8-powered Toyota Landcruiser, rumored to cost $73,800,000

4. Two Toyota Hilux Shell Specification Vehicles, Costing ₦44,200,000

These were the cars cited in the accusations at ex-CBN Governor Godwin Emefiele.

Leave a Reply

Your email address will not be published. Required fields are marked *