The Economic and Financial Crimes Commission (EFCC) brought former Central Bank of Nigeria (CBN) Governor Godwin Emefiele before Justice Maryann Anenih of the FCT High Court, Abuja, on Wednesday. Emefiele faced allegations of approving the printing of N684.5 million at the rate of N18.96 billion and pleaded not guilty to the four-count charge.
According to the EFCC, Emefiele’s actions constituted a disregard for the law and were intended to harm the public during the implementation of the naira swap policy under the administration of former President Muhammadu Buhari. Additionally, he was accused of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
This arraignment marked the third set of charges against Emefiele. On November 17, 2023, he faced a six-count charge of procurement fraud before Justice Hamza Muazu, to which he pleaded not guilty.
He was also accused of abusing his office by approving a contract for the acquisition of 43 vehicles totaling N1.2 billion between 2018 and 2020.
Furthermore, on April 8, 2024, the EFCC arraigned Emefiele and Henry Omoile before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, for an alleged $4.5 billion and N2.8 billion fraud. Emefiele maintained his plea of not guilty in this case as well.
READ ALSO: EFCC To Arraign Emefiele On Fresh Charge, Says He Printed ₦684.5m Notes With ₦18.9bn
The new charge, dated April 2, 2024, filed by EFCC prosecutor Rotimi Oyedepo (SAN) alongside eight other lawyers acting on behalf of the Attorney General of the Federation, outlined Emefiele’s alleged offenses in detail. Counts one to four accused Emefiele of disobeying the direction of law with intent to cause injury to the public, contrary to Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.
The case against Emefiele underscores the gravity of the allegations and the legal scrutiny surrounding his tenure as CBN Governor.
