Godwin Emefiele, the former Central Bank Governor, is set to be released from the Department of State Services (DSS) detention after finalizing a plea bargain with the administration of President Bola Tinubu. According to sources, the non-prosecution plea bargain is contingent on Emefiele’s willingness to return N50 billion, which he is alleged to have corruptly amassed.
The Minister of Justice and Attorney-General of the Federation, Lateef Fagbemi, has reportedly signed the non-prosecution plea bargain, awaiting Tinubu’s approval. The agreement follows Emefiele’s arrest in connection with 20 counts of conspiracy and procurement fraud.
The DSS reportedly traced N72 billion to accounts associated with Emefiele, earmarked for his presidential run, along with the discovery of $70 million hidden in accounts linked to him. The investigators have also traced the ownership of Polaris Bank and several other banks to Emefiele.
Earlier reports highlighted the arrest of Aminu Yaro and Saadatu Yaro, a couple associated with Emefiele, in connection with investigations into his infractions. The trial, initially scheduled at the High Court of the Federal Capital Territory, has faced delays as Emefiele pursues a plea bargaining arrangement.
Legal experts suggest that the plea bargaining could provide Emefiele with a soft landing and resolve the matter without a full trial. The unfolding situation underscores the complex interplay of legal and political forces in high-profile corruption cases.
