Godwin Emefiele, the suspended governor of the central bank, will be arraigned by the federal government on Thursday in Abuja's Federal High Court on a brand-new 20-count charge involving possible procurement fraud.

Along with a female CBN employee named Sa'adatu Yaro and her company, April 1616 Investment Limited, Emefiele will be charged with procuring fraudulently N6.9 billion, conspiring against the CBN, and giving his friends corrupt advantages.

The fresh charge comes 24 hours after the federal government announced its withdrawal of the “illegal possession of firearms” charge against him before the Federal High Court in Lagos on Tuesday.

Emefiele is accused of conferring corrupt advantages on Yaro, a director in April 1616 Investment Ltd., an offense contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000, which is punishable with five years imprisonment without the option of a fine.

The accused persons were alleged to have bought 98 exotic vehicles and armored buses valued at N6.9 billion, including 84 Toyota Hilux, three Toyota Landcruisers, one Toyota Avalon, and 10 armored Mercedes-Benz buses, between 2018 and 2020.

The Daily Post reports that the suspended CBN governor has been in detention since his suspension by President Bola Tinubu on June 9.

He was arraigned for alleged possession of illegal firearms before the Federal High Court in Lagos.