Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has entered another legal battle, pleading not guilty to fresh charges of approving the printing of ₦684.5m at the rate of ₦18.96bn under former President Muhammadu Buhari’s administration.
Arraigned before Justice Maryann Anenih at the FCT High Court in Abuja, Emefiele faces a four-count charge filed by the Economic and Financial Crimes Commission (EFCC).
In the charge sheet, EFCC alleged that Emefiele violated legal procedures in approving the printing of ₦684.5 million at an inflated cost of ₦18.96 billion, causing significant public harm. Additionally, the anti-graft agency accused him of unauthorized withdrawal of ₦124.8 billion from the Consolidated Revenue Fund.
This case marks the third set of charges against Emefiele.
Previously, he was arraigned in November 2023 on a six-count charge of procurement fraud before Justice Hamza Muazu, related to a ₦1.2 billion vehicle acquisition contract. In April 2024, Emefiele, alongside Henry Omoile, faced charges of a $4.5 billion and ₦2.8 billion fraud in Lagos, presided over by Justice Rahman Oshodi. Emefiele has consistently pleaded not guilty to all charges.
The latest indictment, dated April 2, 2024, highlighted four specific offenses. These include approving the printing of ₦1,000 notes totaling ₦11 billion, ₦500 notes amounting to ₦4.5 billion, and ₦200 notes costing ₦3.4 billion, all without necessary board recommendations or presidential approval. Furthermore, he is accused of illicitly authorizing a ₦124.8 billion withdrawal from the Consolidated Revenue Fund.
Prosecutor Rotimi Oyedepo (SAN), supported by eight other lawyers representing the Attorney General, explained the gravity of Emefiele’s alleged actions, citing violations of the CBN Act and the Nigerian Constitution, both intended to safeguard public interests.
Leave a comment
