It is never good to be on trial, no matter who you are, no matter how invincible you think you are. If in doubt, ask those who had been on trial or were victims of a monstrous frame-up by the state. Each time this column focuses on the ongoing prosecution (some say ‘persecution’) of the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, it’s not because of any special personal interest in his defence. Indeed, his lawyers are already in court doing exactly that. That’s what they are paid to do. Here is where I stand on the matter, and my reasons. First, the Emefiele saga is of public interest. In that respect, I refuse to join the feeding frenzy, the vicious, full-throated vitriol and high-tech lynching attacks on Emefiele by those who want to see him go to prison at all cost. Sadly, that chilling scenario is looking likely. Secondly, I feel I stand on a just pedestal, that is, that due process of the law should take precedence over anything else in his ongoing trial. So far, it appears that due process, has been adhered to.
The fact is, those prosecuting the man are no better than Emefiele. If, indeed, Emefiele had made some mistakes or stepped on powerful toes during his 9-year period as the nation’s topmost banker, his prosecutors have their own flaws, faults, blind spots and shadow sides as well. In that regard, they are no different from hypocrites. Hypocrites lose their footing the very moment they hold others to the standards they cannot keep. Suffice it to say that today, Nigeria is in a steep decline of institutional identity. Both the legislature and the presidency have become a “Broken Branch”( to borrow the title of the book written by Thomas Mann of the Brookings Institution in the USA). Time, it seems, is far gone in our country when the cherished norms prevalent in the National Assembly, among them, institutional patriotism and politics of conviction, when lawmakers were respected for being intensely loyal to the country and the people whom they represent. Now, not all, but a lot of the members of that hallow chamber are beholden to someone else to protect their own interests rather than that of their constituents. Every utterance seems to curry the favour of someone who sits higher up. No longer does ideology and personal reputation matter.
Time is also gone when the rules and procedures were key to parliament’s unique role as the greatest deliberative, lawmaking body. There was a time when senators, for example, had a heavy dose of undiluted patriotic zeal above everything else. That pride and honour of being called “Distinguished Senator”, had since gone as well. All of this boils down to a search for good leadership at the commanding heights of the National Assembly. Can that be said of the present Senate led by Godswill Akpabio? Why do many people think, even among his ‘distinquished’ colleagues that he is not measuring up, and perhaps has lost touch with reality? He has managed to survive each time disaffection over his leadership style hugs the headlines. This much must be said as it regards the Senate President. Undoubtedly, Akpabio is a lucky politician by the standards of Nigeria’s pork barrel politics. Before his present position as Senate President of the Federal Republic, Akpabio had been a commissioner, a 2-term Governor of his home state of Akwa Ibom. He was also a minority leader of the Senate before he defected to the ruling All Progressives Congress (APC), and later, appointed a Federal Minister of the Niger Delta Affairs by the Buhari administration. These are no small accomplishments. However, the downside of the man is his proclivity for misspeak, gaffes that raise the alarm bells almost anywhere he goes, and sometimes when he’s presiding over the Senate plenary. Another of his blind spot is that he often craves for the spotlight. Nothing perse is wrong with that, but in the process he mixes and messes things up. His bravado has become his hubris, his Achilles’s heel. It’s a false show of courage.
Political historians say that leaders with such traits are not attentive to details, and often rush into judgment. Akpabio’s recent over the top comments include his uncomplimentary remarks on the tenure of Emefiele as CBN Governor. It all happened few months ago during a Thanksgiving service of Sen. Brinada Mpigi in Tai Local Government Council, Rivers state. On that occasion, what Akpabio said about Emefiele still rankles. Legal practitioners say that statement attributed to Akpabio could be prejudicial to the ongoing trial of Emefiele. For the records, this is what Akpabio said, “the financial crimes committed by Emefiele as CBN Governor were so egregious, so terrible, that the present administration is not even sure what charges to bring against him – whether for putting foam on top of the bill, illegal possession of firearms, printing of banknotes without income – I don’t know what we are going to charge him(Emefiele) with”.
As a lawyer of many years before his foray into politics, Akpabio ought to know better than go off the handle in a complicated, divisive matter before the courts. And you ask, when has Akpabio become a judge to pass verdict on a man still standing trial for offences that have not been proven? That’s where the Senate President has lost me. But that seems to be one of his many indiscretions. Recall last year when his comment on the floor of the senate caused a stir, that was when he announced to his colleagues that the Clerk of the senate would transfer some cash to their bank accounts for them to “enjoy their recess”. When his attention was drawn to the fact that the microphone system was on, and the press gallery not cleared, he quickly tried to reframe his comments. But it was belated. Now, that Emefiele’s trial has begun, it’s pertinent to ask: Is it coincidence that Akpabio’s harangue about Emefiele three month’s ago in Rivers at the Thanksgiving service of Sen. Mpigi, that the present administration is not exactly sure what to charge Emefiele, a conspiracy of some sort already planned months ahead of his arraignment? Truth no longer counts as long as a big sensation can be produced. Legal experts have argued that Akpabio prejudging Emefiele even when his trial had not started, is not the stuff of good leadership. That informed the letter written to him by one of Emefiele’s lawyers, Matthew Burkaa, demanding a hefty N25bn as damages for alleged defamatory remarks about Emefiele if Akpabio fails to tender unreserved apology to the ex-CBN Governor or face “appropriate legal redress”. Akpabio has not done, and is unlikely to tender any apology. But, Emefiele’s counsel insists that not only was Akpabio’s remark defamatory, but is “capable of undermining the honour, and integrity of the court and its independence”, and also has the propensity to prejudice and case against his client, that is, Emefiele.
In the same vein, some Constitutional lawyers in the country, chaired by Yusuf Ahmed Tijani rose up in defence of Emefiele, and called Akpabio’s comments on Emefiele as “baseless”. Contrary to the litany of charges against Emefiele, the lawyers said that many of the monetary reforms introduced by Emefiele as CBN Governor could have positioned the economy on solid ground, insisting that the present reforms by the current CBN have made the economy worse. That may not be far from the truth. Under Emefiele, the exchange rate at the parallel market was N750/$. As at last weekend, the naira exchange for N1,450/$. The lawyers also cautioned the Senate President to bridle his tongue on a matter before the courts. They reminded him of his own case with the anti-graft agency before he became the senate President. We are approaching a year since the Emefiele saga began, yet the prosecutors are still stonewalling on the number of offences to charge Emefiele with. It all started with a 3-count charge, to about 26. It could double this weekend when the trial resumes at the Lagos High Court presided by Justice Rahman Oshodi.
Last Thursday, May 9, the anti-graft agency, EFCC tendered a trove of documents, accusing the first defendant (Emefiele) of “abuse of office of $4.5bn and N2.8bn fraud while in office”. The bundle of documents were tendered through third Prosecution Witness(PW3), a compliance officer with the Zenith Bank plc, Mr. Clement Ngolu, by EFCC counsel, Rotimi Oyedepo(SAN). Emefiele’s counsels, Olakekan Ojo, and Adeyinka Kotoyi, all Senior Advocate of Nigeria(SAN) did not object to the admission of the documents as evidence. What does all of this tell you? There is a heightened desperation to hunt down the ex-Governor of Nigeria’s apex bank. Some legal experts say the unfolding tactics by the prosecution that are playing out now is the change of jurisdiction of the case from the Federal High Court to the Lagos High Court. It is not clear the motive for the present change of jurisdiction. It’s left for anybody’s guess. There is also an unraveling tissues of lies and propaganda going on in the media. One of them is an unproven allegation that Emefiele while in office spent a princely N17bn to print N648bn banknotes. It’s a riddle that the court may answer.
Emefiele lawyers have debunked that allegation. It comes against the backdrop of another allegation that the present CBN has awarded a hefty contract to a foreign firm, G&D and Obertour to print N3bn naira banknotes at a cost price of N58 per unit, while the naira redesign was reportedly printed at a cost price of N27 per unit. All of these are on the realm of speculation. They have not been conclusively proven, neither have they been debunked. The haranguing about Emefiele appears to have many layers of plots now. If one fails, produce another. A key part of the plot is using some top staff of Zenith Bank where Emefiele served as Managing Director CEO before his appointment as CBN Governor against him. A lot of their evidence have been tendered before the court. One of them is that a dispatch rider claimed that he collected bribe on behalf of the Emefiele, something he later denied. Also, second prosecution witness, Mr. John Ayoh, a former ICT Director with CBN, under oath claimed that thousands of American dollars on behalf of the accused.
Last week, at the trial at the Lagos High Court, another witness surfaced. He’s a computer consultant presented by the EFCC, according to Business Day report, testified that officials of CBN during Emefiele’s tenure asked him for bribe of $600,000 for five contracts executed between 2014 and 2019. He claimed he delivered the amount in two tranches. Clearly, there seems to be no shortage of dredging up of all manner of witnesses to testify against the ex-CBN Governor. What the court will make of these witnesses is one thing the public is waiting to see on judgment day. Perhaps Emefiele’s clear offence is that he supported Buhari administration in the Naira Redesign, a move which the former President stated he expressly approved, ostensibly to curb vote buying by politicians in last year’s general election. For almost one year now, the fixation and surge of attention on Emefiele is making the government to lose focus on critical issues that deserve its immediate attention. Everything that has gone wrong with the economy is blamed on Emefiele. Meanwhile, the current hardship in the country is becoming unbearable. Cost of living is getting beyond the income of average Nigerians. Nigerians are crying to President Tinubu over worsening insecurity and hunger index in the country. But the obsession with Emefiele’s tenure at CBN has become the full-time job of the present administration. When it end is anybody’s guess.
