Kehinde Fajobi
A Lagos High Court sitting in Ikeja on Wednesday dismissed four of the 26 charges against former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
The Economic and Financial Crimes Commission (EFCC) had accused Emefiele of abuse of office in connection with the allocation of foreign exchange.
Justice Rahman Oshodi, ruling on Emefiele’s preliminary objection, stated that the allocation of foreign exchange without a bid, which formed the basis of the first four charges, is not an offence under any law.
“Allocation of foreign exchange without reason is not defined as an offense in any written law. The objection to counts one to four succeeds and is hereby struck out,” he said.
Despite this, the court upheld its jurisdiction over the remaining charges, referring to relevant statutory and constitutional provisions.
Justice Oshodi dismissed Emefiele’s application challenging the court’s jurisdiction and confirmed that the EFCC had established its territorial jurisdiction for counts eight to 26.
The case is scheduled to resume for trial on February 24.