PRESIDENT TINUBU RECONSTITUTES THE BOARD OF THE NIGERIAN ELECTRICITY REGULATORY COMMISSION. (PHOTO). #PRESS RELEASE

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 STATEHOUSE PRESS RELEASE   President Tinubu Reconstitutes the Board of the Nigerian Electricity Regulatory Commission   President Bola Ahmed Tinubu has approved the reconstitution of the Board of the Nigerian Electricity Regulatory Commission (NERC), following the Senate's confirmation of its members on December 16.   Members of the reconstituted Board are:   • Mulisiu Olalekan Oseni, PhD. — Chairman   Dr Oseni started his service as a Commissioner in January 2017. He was subsequently appointed Vice Chairman of the Commission.   His appointment as Chairman took effect from 1 December 2025 and shall subsist until the completion of his ten-year tenure at the Commission, in accordance with the provisions of the Electricity Act, 2023.   • Yusuf Ali, PhD. — Vice Chairman   Dr Ali was first appointed as a Commissioner in February 2022. His designation as Vice Chairman took effect on 1 December 2025 and shall remain in effect until the completion o...
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ALLEGED $6.2M FRAUD: EMEFIELE AWARDED CONTRACTS WITHOUT BIDDING PROCESSES- WITNESS. (PHOTO). #PRESS RELEASE.

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Alleged $6.2m Fraud: Emefiele Awarded Contracts without Bidding Processes-Witness


The10th Prosecution Witness, (PW10), 

Stephen Salau Gana,  in the trial of former governor of Central Bank of Nigeria, CBN, Godwin Emefiele has disclosed

 before Justice Hamza Mu’azu of the Federal Capital Territory, (FCT) High Court Maitama, Abuja,   that the company, April 16 16 Investment Limited, belonging to Sa’adatu Ramalan Yero, a staff of the apex bank was awarded a contract for the supply of vehicles to the CBN, valued at N99.9 million by direct procurement without a competitive bidding process.


Led in his testimony by prosecution counsel, Rotimi Oyedepo SAN, the witness who was head of CBN’s Procurement Office during Emefiele’s tenure,  revealed that a CBN governor’s threshold of 

contract approval was N100 million and that direct procurement was adopted only

 in cases where there was only one sole manufacturer, distributor or representative, or in cases of emergency or where the goods are available from only one source, adding, however, that none of these conditions applied to April 16 16 in the contract award.  “April 16 16 was neither the sole manufacturer nor the sole distributor,” he told the court upon enquiry by the prosecuting counsel. Responding to a further enquiry on the possibility of April 16 16 having an exclusive dealership right on the vehicles supplied, he said, “No, they don’t have such rights.”  


While the witness's role as head of CBN’s Procurement Office was to provide leadership and oversee the procurement of goods and services, he told the court that he took no steps towards ascertaining if April 16 16 was the only available vehicle vendor.


The Economic and Financial Crimes Commission, EFCC is prosecuting Emefiele before Justice Mua’zu on 

amended 20-count charges bordering on conspiracy, criminal breach of trust, conferment of corrupt advantages, forgery, and obtaining by false pretences to the tune of $6,230,000 (Six Million, Two Hundred and Thirty Thousand Dollars).


The case was adjourned to November 13, 2024, for  continuation of trial.

 


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