Alleged $4.5bn Fraud: Absence of Emefiele, Co-defendant Truncates Trial

The absence of the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and his co-defendant, Henry Omoile, on Tuesday stalled their trial before Justice Rahman Oshodi of the Lagos State Special Offences Court, Ikeja.

As a result of the development, the trial judge adjourned the case to November 11, 12 and 13, 2026 for continuation of the trial.

It would be recalled that Emefiele is answering questions to a 19-count charge instituted against him by the Economic and Financial Crimes Commission (EFCC) bordering on alleged abuse of office, receiving gratification, making corrupt demands, and fraudulent receipt of property in transactions involving about $4.5 billion and N2.8 billion.

On his part, Emefiele’s co-defendant, Omoile, is facing three counts bordering on alleged unlawful acceptance of gifts as an agent.

But they both pleaded not guilty to all charges.

When the matter came up for hearing, the counsel for the first defendant, Labi Lawal (SAN), told Justice Oshodi that Emefiele would not be available as he was attending another trial in Abuja.

Even the counsel for the anti-graft agency, C.C. Okezie, confirmed the development, adding that Emefiele had written a letter dated October 6, 2026, stating that he would be attending another trial in Abuja on the same dates scheduled for the Lagos trial.

On his part, the lawyer for the second defendant, A. Kotoye, SAN, objected, saying he had neither seen nor received any notification regarding Emefiele’s absence.

According to Kotoye, “I don’t know why the court will be treating the second defendant as if he is not part of the proceedings.”

The senior lawyer asked the court to vacate the previously scheduled trial dates in October, questioning whether it would be convenient for Emefiele to travel from Abuja to Lagos to attend proceedings the following day.

The SAN noted that the outcome of the Abuja case cannot be predicted.