Naira printing charge: Emefiele pleads not guilty

The embattled former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has pleaded not guilty to the allegation that he unlawfully printed Naira Notes while he held sway at the apex bank.

The Economic and Financial Crimes Commission, EFCC, alleged that Emefiele had without authorization from former President Muhammadu Buhari, printed N684million Notes with the total sum of N18.96billion.

Besides, the anti-graft agency accused the former CBN boss of unlawfully approving the withdrawal of about N124.8bn from the consolidated revenue fund.

According to the EFCC, the defendant, acting in violation of law and “with intent to cause injury to the public,” okayed the printing of naira notes without the approval of both the former President, Muhammadu Buhari and the board of the CBN.

However, when the four-count charge was read to the defendant before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory, FCT, he pleaded his innocence to the allegation.

While the prosecution counsel, Mr. Rotimi Oyedepo, SAN, requested for a date for the commencement of full hearing in the matter, the defendant, through his team of lawyers prayed the court to allow him to go home on bail, pending the determination of the case against him.

Specifically, the charge against the former CBN Governor, read: “That you Godwin Ifeanyi Emefiele, between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007;

“…by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 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 and you thereby committed an offence.

“That you, Godwin Ifeanyi Emefiele, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes;