ICPC Investigator Alleges CBN Governor Emefiele Awarded Contracts to Wife’s and Staff Member’s Companies

An investigator at Nigeria’s anti-corruption agency, ICPC, Agboro Michael, has testified in the Federal Capital Territory (FCT) High Court in Abuja, accusing former Central Bank of Nigeria (CBN) Governor Godwin Emefiele of awarding contracts to two obscure companies belonging to his wife, Margaret Emefiele, and a CBN staff member, Sa’adatu Yaro. The contracts, amounting to N30 trillion, were allegedly awarded for the renovation of the CBN governor’s lodge in Lagos, as well as the supply of power lines and vehicles for the bank.

Michael revealed that the companies – Architekon Nigeria Limited and April1616 Investment Limited – were incorporated by Margaret Emefiele and Sa’adatu Yaro, respectively. He stated that Architekon Nigeria Limited began receiving CBN patronage after Godwin Emefiele’s appointment as CBN governor in 2014, despite being incorporated in 2009, five years before his appointment.

The investigator testified that an inter-agency probe involving the ICPC, EFCC, Code of Conduct Bureau (CCB), and the State Security Service (SSS) was conducted, revealing that Margaret Emefiele and her brother, Marcombo Omoile, were director and shareholder, respectively, of Architekon Nigeria Limited. The investigation reportedly uncovered that the companies owned by Emefiele’s wife and the CBN staff member had never had any contractual dealings with the CBN until Godwin Emefiele’s appointment.

In response to the allegations, Emefiele denied the charges during his re-arraignment in January. His defence team questioned the whereabouts of the investigative report, which Michael stated was submitted to the Director-General of the SSS, Yusuf Bichi.

During cross-examination, the defence lawyer, Matthew Burkaa, inquired about the CBN’s contract award procedure. Michael explained that contracts at the CBN are processed through the Tenders Board, Contract Approval Council, and Committee of Board of Governors, and affirmed that the contracts in question had passed through due process.

The trial has been adjourned until 25 April for further hearing. The outcome of this trial could have significant implications for Emefiele and may impact public perception of corruption in Nigeria’s financial sector.

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