Godwin Emefiele’s fate to be decided on January 7 as court rules on jurisdiction

Justice Rahman Oshodi of the Ikeja Special Offences Court has scheduled a ruling for January 7, 2025, on an application submitted by the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

The Diaspora Digital Media (DDM), learnt that Emefiele is currently facing a total of 26 counts filed by the Economic and Financial Crimes Commission (EFCC).

He stands accused of misusing his office, allegedly resulting in losses amounting to $4.5 billion and N2.8 billion.

Alongside him, his co-defendant, Henry Omoile, is undergoing trial for related offenses, including the unlawful acceptance of gifts.

During the proceedings on December 11, Emefiele’s attorney, Olalekan Ojo (SAN), raised arguments concerning the court’s jurisdiction over the case being tried in Lagos.

Ojo contended that the alleged actions, particularly the abuse of office, fell outside of the Ikeja Special Offences Court’s territorial jurisdiction.

He asserted that the charges against Emefiele contravened Section 36(12) of the Nigerian Constitution, which protects against retroactive criminal prosecution.

According to the counsel, the alleged offenses are not recognized as punishable under the law.

Godwin Emefiele’s counsel referenced the legislative authority of the Lagos State House of Assembly, arguing that it lacks jurisdiction over matters on the Exclusive Legislative List.

He pointed out that Section 73 of the Criminal Law of Lagos State, which supported Counts 1 to 4, cannot apply to allegations of abuse of office committed beyond the jurisdiction of the Lagos State Assembly.

Ojo explained that territorial jurisdiction defines the specific geographical area within which a court may exercise its authority.

Consequently, Ojo argued that the court could not legally act outside of its designated area.

In addition, Ojo requested the court to dismiss Counts 1 to 4 of the amended information filed on April 4, 2024.

He asserted that these charges stemmed from incidents that took place outside the court’s jurisdiction, thus invalidating them.

Countering Ojo’s assertions, EFCC counsel Rotimi Oyedepo (SAN) insisted that the Ikeja Special Offences Court possessed the necessary jurisdiction to adjudicate this matter.

He argued that the alleged offenses, being economic and financial in nature, rightly fell under the EFCC’s authority.

Oyedepo maintained that evidence indicated Lagos as the appropriate forum for Emefiele’s trial.

Moreover, Oyedepo stated that the specifics of the charges, including the manner in which they were committed, clearly fit within the judicial purview of the Ikeja Special Offences Court.

He reaffirmed that testimonies and evidence presented substantiated Lagos as the correct venue for the proceedings, reinforcing the argument that the court remains competent to hear the case.

The EFCC counsel dismissed the objections raised by Emefiele’s legal team as lacking sufficient factual foundation, arguing that the issues raised did not invalidate the court’s jurisdiction.

After hearing the arguments from both sides, Justice Oshodi concluded the session.

He adjourned the matter for ruling on January 7, 2025.

Know about Godwin Emefiele

Godwin Emefiele is a Nigerian politician, economist, and banker who led the Central Bank of Nigeria from 2014 until President Bola Tinubu suspended him in 2023.

Early Life and Education

Born on August 4, 1961, in Lagos State, Nigeria, Godwin Emefiele hails from Agbor, Delta State.

His academic background includes primary education at Ansarudin Primary School and secondary education at Maryland Comprehensive Secondary School in Lagos.

Emefiele then pursued higher education at the University of Nigeria Nsukka (UNN).

He graduated with a Bachelor’s Degree in Banking and Finance in 1984.

He subsequently earned a Master’s Degree in Finance from UNN in 1986.

Emefiele also completed executive education programs at renowned institutions, including Stanford University, Harvard University (2004), and Wharton School of Business (2005).

Governor of CBN

Godwin Emefiele served as the Governor of the Central Bank of Nigeria from June 4, 2014, to June 9, 2023.

President Bola Tinubu suspended him in 2023.

During his tenure, he implemented an interventionist currency policy.

This propped up the Nigerian Naira by injecting billions of dollars into the foreign exchange market.

Emefiele also introduced a multiple exchange rate regime to mitigate pressure on the Naira.

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