The charges were filed by the Economic and Financial Crimes Commission (EFCC), which accused Emefiele of allocating over $2.13 billion in foreign exchange without competitive bidding, totalling $2,136,391,737.33 a practice deemed harmful to Nigeria’s interests.
During the trial, Emefiele pleaded not guilty to the charges, and through his lawyer, Olalekan Ojo, challenged the court’s jurisdiction to entertain the charges filed by the EFCC.
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