Former governor of the Central Bank of Nigeria, Godwin Emefiele has lost the chance to stop the $4.5bn, N2.8bn fraud trial after the Lagos State Special Offences Court, on Wednesday, dismissed an application filed by the former governor, challenging the court’s jurisdiction to entertain the fraud charges brought against him by the Economic and Financial Crimes Commission.

Justice Rahman Oshodi, in his ruling, held that the court had the jurisdiction to try Emefiele and his co-defendant, Henry Omoile.

The judge, however, struck out four of the 26 counts filed by the EFCC against the defendants for lack of jurisdiction.

Justice Oshodi explained: “Allocation of foreign exchange without reason is not defined as an offence under any written law. The objection to counts one to four succeeds and is hereby struck out.

“The objection challenging the court’s territorial jurisdiction over counts eight to 26 fails and is hereby dismissed.

“The prosecution has established sufficient territorial nexus in this case.

”The judge subsequently adjourned the case for trial continuation on February 24, 2025.

The EFCC had arraigned Emefiele on 26 charges, bordering on abuse of office and illegal allocation of $4.5bn and N2.8bn.

At the last adjourned date on December 12, 2024, Emefiele’s counsel, Mr. Olalekan Ojo (SAN), argued that the court lacked jurisdiction to hear the case in Lagos.Ojo contended that the alleged offences, including abuse of office, fell outside the territorial reach of the Lagos Special Offences Court.

He also argued that the charges violated Section 36(12) of the Nigerian constitution, asserting that the alleged offences were not legally recognised under Nigerian law.

Furthermore, Ojo emphasised that since the Lagos State House of Assembly does not have legislative authority over matters on the Exclusive Legislative List, Section 73 of the Criminal Law of Lagos State (2011), under which counts one to four were filed, cannot apply extraterritorially to the alleged abuse of office by Emefiele.

Ojo added that a court’s territorial jurisdiction is limited to the geographical area within which its authority can be exercised and urged the court to strike out counts one to four of the amended charges filed by the EFCC on April 4, 2024.

In response, EFCC counsel, Mr. Rotimi Oyedepo (SAN), argued that the court had the authority to hear the case.

Oyedepo contended that the alleged crimes were economic and financial in nature, falling within the EFCC’s jurisdiction.

He also maintained that substantial evidence supported Lagos as the appropriate venue for the trial.

According to Oyedepo, the subject matter of the charges clearly fell within the court’s jurisdiction since the offences were committed within its territorial reach.

He noted that evidence and witness testimonies pointed to Lagos as the proper location for the trial and argued that the objections raised by Emefiele’s legal team lacked factual or evidential support.

Following the arguments, Justice Oshodi initially adjourned the case to January 7, 2025, for a ruling on the application challenging the court’s jurisdiction.

However, the ruling was not ready on that date, prompting an adjournment to Wednesday, January 8, 2025.

The case has now been adjourned to February 24 and 26, 2025, for the continuation of trial.