Breaking: Court dismisses Emefiele’s application challenging $4.5bn, N2.8bn fraud case

Ikeja Court in Lagos State, has dismissed the plea application filed by the former Governor of the Central Bank of Nigeria, Godwin Emefiele, challenging its jurisdiction to hear the $4.5 billion and N2.8 billion fraud case brought by the Economic and Financial Crimes Commission.

Delivering the ruling on Wednesday, Justice Rahman Oshodi held that the court had jurisdiction over counts eight to 26, citing relevant legal authorities and evidence presented in the case file.

However, the court struck out counts one to four, which centred on abuse of office through the allocation of foreign exchange without bidding, noting that such actions were not punishable under Nigerian law.

“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…