The former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, was arraigned at a Lagos court on a 26-count charge related to abuse of office.
The charges were filed by the Economic and Financial Crimes Commission (EFCC), which accused Emefiele of allocating over $2.13 billion in foreign exchange without competitive bidding, totalling $2,136,391,737.33 a practice deemed harmful to Nigeria’s interests.
During the trial, Emefiele pleaded not guilty to the charges, and through his lawyer, Olalekan Ojo, challenged the court’s jurisdiction to entertain the charges filed by the EFCC.
Ojo requested the court strike out counts one to four, arguing that the offences related to abuse of office were not recognised by law, as required by section 36 (12) of the 1999 Constitution as amended.
On Wednesday, Rahman Oshodi, the trial judge, ruled that the anti-graft agency had established a territorial jurisdiction on count eight to 26 with various facts in the proof of evidence attached with the case file.
The judge struck out counts one to four of the charge bothering on abuse of office.
Oshodi ruled that the allocation of foreign exchange without bid, which was the subject of counts one to four, was not punishable under law.
He added that the law does not recognise the action as an offense.
“Allocation of foreign exchange without reason is not defined as an offense in any written law,” the judge ruled.
“The objection to counts one to four succeeds and is hereby struck out.
“The objection challenging the court’s territorial jurisdiction over count eight to 26 fails and is hereby dismissed.
“The prosecution has established sufficient territorial nexus in this case.”
Oshodi said the case will proceed to trial, with the next hearing adjourned to February 24 and 26, 2025.