The Economic and Financial Crimes Commission (EFCC) has urged a Lagos court to dismiss former Central Bank Governor Godwin Emefiele’s application challenging its jurisdiction over his $4.5 billion and N2.8 billion fraud case.
The Special Offences Court in Ikeja, Lagos, presided over by Justice Rahman Oshodi, has set January 7, 2025, to rule on the objection raised by Emefiele.
Emefiele and his co-defendant, Herry Omoile, face a 26-count charge of corruption, fraud, and gratification, accusations they have both denied.
Through its counsel, Rotimi Oyedepo, SAN, the EFCC described Emefiele’s application as a deliberate ploy to frustrate the trial and evade accountability.
“This application is merely a tactic to delay justice,” Oyedepo argued before the court. “The EFCC has the constitutional mandate to prosecute economic and financial crimes, and this court has the jurisdiction to hear the case.”
Emefiele’s lawyer, Olalekan Ojo, SAN, however, disagreed.
He claimed that the charges were unconstitutional and should be struck out because a state high court is not empowered to try offences stemming from Emefiele’s tenure as CBN Governor.
“The alleged abuse of office is tied to my client’s position as the Governor of the Central Bank of Nigeria,” Ojo argued. “Such matters raise fundamental constitutional issues that a state high court cannot adjudicate.”
Ojo further described counts one to four of the charges as lacking legal merit, insisting that they were not grounded in Nigerian law.
The EFCC’s legal team strongly disagreed, emphasizing that the alleged offences occurred in Lagos, making the court the appropriate venue for the trial.
“Economic and financial crimes are under the jurisdiction of this court,” Oyedepo said. “All elements of these alleged crimes took place within Lagos State.”
The charges against Emefiele and Omoile include allegations of gratification, corruption, and receiving fraudulent property.
The EFCC has accused them of violating the Corrupt Practices Act of 2000 by conferring financial advantages on associates while Emefiele was the head of Nigeria’s apex bank.
Prosecutors allege that Emefiele was involved in high-level financial misconduct amounting to billions of naira and dollars.
This case has drawn widespread attention, as it involves one of Nigeria’s most controversial public figures in recent years.
Emefiele, who served as CBN Governor from 2014 until his suspension and arrest in 2023, has faced intense scrutiny over his tenure.
The allegations of fraud and abuse of office add another layer to the controversies that have surrounded his stewardship of Nigeria’s financial system.
Legal experts have weighed in on the matter, with opinions divided over whether the state high court has jurisdiction.
Some argue that Emefiele’s legal team is correct in questioning the court’s jurisdiction, given the constitutional complexities of the charges.
Others, however, contend that the EFCC’s position is valid, as economic and financial crimes fall squarely under its mandate.
“This case is a litmus test for Nigeria’s legal system,” said a Lagos-based lawyer familiar with the proceedings.
“Beyond the legal arguments, it sends a strong message about accountability for those in public office.”
Public reactions to the case have also been mixed, with some Nigerians expressing frustration over the perceived slow pace of justice.
“Why does it take so long to prosecute high-profile cases like this?” one social media user lamented. “It feels like there’s always a loophole.”
Justice Oshodi’s decision on January 7, 2025, could have significant implications for the case and for legal proceedings involving other high-profile individuals.
The stakes are high for Emefiele, who has consistently denied any wrongdoing and insists that the charges against him are politically motivated.
Observers say the trial represents a crucial opportunity for Nigeria to demonstrate its commitment to fighting corruption.
