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Emefiele loses bid to stop $4.5bn, N2.8bn fraud trial

  • The Ikeja Special Offences Court has dismissed Godwin Emefiele's plea challenging its jurisdiction in a $4.5 billion and N2.8 billion fraud case brought by the Economic and Financial Crimes Commission .
  • Justice Rahman Oshodi ruled that the court has jurisdiction over counts eight to 26, while striking out counts one to four related to abuse of office.
  • The court found that allocation of foreign exchange without reason is not defined as an offence in any written law.
  • The trial is adjourned until February 24, 2025, for continuation as the EFCC established sufficient territorial jurisdiction in the case.
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