The Federal Government is set to arraign suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and his associates at the Federal Capital Territory (FCT) High Court in Abuja on Thursday. Emefiele, along with a female CBN employee, Sa’adatu Yaro, and her company, April1616 Investment Limited, will face charges of procurement fraud, conspiracy, and conferring corrupt advantages.
The charges stem from allegations of conferring corrupt advantages on Yaro, who is a director at April 1616 Investment Ltd. The accusations are contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000. The charges state that Emefiele used his position to award contracts for the supply of vehicles to Yaro's company, violating ethical and legal guidelines.
Emefiele has been detained since his suspension on June 9, 2023. The indictment also alleges that he and his associates bought a fleet of over 98 luxury vehicles and armored buses worth approximately N6.9 billion. These vehicles were purchased between 2018 and 2020, including Toyota Hilux vehicles, armored Mercedes Benz buses, Toyota Landcruisers, and a Toyota Avalon car.
The Advertising Regulatory Council of Nigeria has announced the dissolution of the Secretariat of the Advertising Standard Panel responsible for endorsing the controversial "All Eyes on the Judiciary" billboards, which were accused of attempting to manipulate the Presidential Election Petition Tribunal. The Director-General of the Council, Dr. Olalekan Fadolapo, stated that the advertisement's concepts were not approved by the Advertising Standards Panel, and therefore, all exposed materials must be taken down immediately. The Council has also temporarily suspended its Director and Deputy Director responsible for Regulations, pending an investigation into the matter. The advertisement's approval process is under scrutiny, and the Council will set up a committee to investigate the circumstances leading to the "erroneous approval" and the breach of vetting guidelines