Abuja, Nigeria——

Nigeria’s former central bank governor pleaded not guilty on Monday to new charges brought against him by the country’s anti-corruption agency.

The Economic and Financial Crimes Commission (EFCC) last week laid 26 charges accusing Godwin Emefiele of corruption and abuse of power during his tenure. Emefiele appeared before the Lagos State High Court on Monday along with co-accused Henry Omoyele.

In a lawsuit filed on April 3, the EFCC said Emefiele violated Nigeria’s Corrupt Practices Act by accepting bribes and gifts and obtaining property through fraud.

The EFCC also accused Emefiele of arbitrarily allocating $2 billion in foreign exchange without tendering or due process and granting undue advantages to his associates.

Emefiele and Omoyele have both pleaded not guilty to the charges. But the court remanded Emefiele in custody until Thursday, when a decision on his bail application is expected.

Emefiele’s legal counsel could not immediately comment on the new charges.

But public affairs analyst Chris Kwaja said, “Based on these charges, if he is found wanting these charges, he will face justice under the laws of the country. As with every person who is authorized to hold public office , “This mandate is a product of trust. This case illustrates this point. The only thing for me is that in pursuing accountability, the Nigerian government must be aware of the rights of everyone. “

Former President Goodluck Jonathan appointed Emefiele as CBN governor in 2014 and served until last year. He was arrested in June, days after President Bola Tinubu took office.

The former central bank governor faced charges in another court in Abuja last year of illegally awarding contracts and breaching Nigeria’s procurement laws, charges he denied.

Eze Onyekpere, founder of the Center for Social Justice, wonders if the government is looking for a scapegoat.

“I’m a little worried because we’ve seen this in previous administrations,” Onyekpere said. “Don’t make it look like you’re looking for a scapegoat, someone who can be dumped easily. ….and trying to provide excuses for their inability to manage the economy well. It’s starting to look a little bit not based on empirical legal evidence.”

Emefiele has withdrawn from a possible 2022 presidential bid.

In July last year, Tinubu hired a special investigator to review the operations of the central bank under Emefiele. On Friday, investigators said his work was complete, but his report has not yet been released.