Emmanuel OchayiThe Economic and Financial Crimes Commission (EFCC) has filed a new charge against the former Governor of the Central Bank of Nigeria, Godwin Emefiele, at the High Court of the Federal Capital Territory.
Emefiele is accused of disobeying the law with intent to harm the public during the implementation of the naira swap policy.
According to the charge sheet, Emefiele approved the printing of N684,590,000 at the rate of N18.96 billion, which is against the law. He is also accused of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
Rotimi Oyedepo, SAN, the EFCC’s top prosecutor, filed the charge on April 2, 2024, and it has been marked as Suit No: CR/264/2024. Emefiele will be arraigned on a new four-count charge before Justice Hamza Muazu, bordering on disobeying the law to punish Nigerians, illegal printing of money, abuse of office, and others.
In a statement, the EFCC alleged that Emefiele “knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of various denominations of the naira without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria, which conduct of yours caused injury to the public.”
Emefiele has been accused of procurement fraud and abuse of office, including approving a contract for the acquisition of 43 vehicles totaling N1.2 billion from 2018 to 2020.
He was arraigned before the court on November 18, 2023, and again on April 8, 2024, alongside one Henry Omoile for alleged $4.5bn and N2.8bn fraud.
The case is ongoing, and Emefiele’s legal team has yet to respond to the new charges. The EFCC is determined to ensure that those who have violated the law are held accountable for their actions.
