On Wednesday, the Economic and Financial Crimes Commission (EFCC) brought former Central Bank of Nigeria (CBN) Governor Godwin Emefiele to court for authorizing the printing of N684.5 million at a cost of N18.96 billion.
Emefiele, upon being arraigned before Justice Maryann Anenih of the FCT High Court, Abuja, pleaded not guilty to the four-count charge leveled against him.
The EFCC’s four-count charge alleges that Emefiele violated the law with the intention to harm the public during the implementation of the naira swap policy under the administration of former President Muhammadu Buhari. Additionally, the anti-graft agency accuses Emefiele of unlawfully authorizing the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
With Wednesday’s arraignment, the number of charges pending against the former CBN governor has risen to three.
On November 17, 2023, Emefiele faced arraignment before Justice Hamza Muazu on a six-count charge related to procurement fraud, to which he entered a plea of not guilty.
Among the allegations was the accusation of abusing his office by approving a contract for the procurement of 43 vehicles amounting to N1.2 billion between 2018 and 2020.
Subsequently, on April 8, 2024, the EFCC brought Emefiele, alongside Henry Omoile, before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, on charges of alleged fraud totaling $4.5 billion and N2.8 billion.
Once again, Emefiele pleaded not guilty to these charges.
The new charge, dated April 2, 2024, was brought forth by the EFFC prosecutor Rotimi Oyedepo (SAN), alongside eight other lawyers representing the Attorney General of the Federation.
Counts one to four of the charge allege, “STATEMENT OF OFFENCE: Public Servant disobeying direction of law with intent to cause injury to the public contrary to and punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.
“PARTICULARS OF THE OFFENCE: That between the 19th day of October 2022 and 5th March 2023 in Abuja, GODWIN IFEANYI EMEFIELE knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by authorizing the printing of N375,520,000.00 pieces of color-swapped N1,000 notes, totaling N11,052,068,062 without the recommendation of the Central Bank Board and the strict approval of the President of the Federal Republic of Nigeria. This conduct caused injury to the public, constituting an offense.”
COUNT 2: “That between the 19th of October 2022 and 5th March 2023 in Abuja, GODWIN IFEANYI EMEFIELE knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by authorizing the printing of 172,000,000 pieces of color-swapped N500 notes, totaling N4,471,066,040 without the recommendation of the Central Bank Board and the strict approval of the President of the Federal Republic of Nigeria. This conduct caused injury to the public, constituting an offense.”
COUNT 3: “Between the 19th day of October 2022 and 5th March 2023 in Abuja, GODWIN IFEANYI EMEFIELE knowingly contravened Section 19 of the CBN Act, 2007, by authorizing the printing of 137,070,000 pieces of color-swapped N200 notes, totaling N3,441,005,280 without the recommendation of the Central Bank Board and the strict approval of the President of the Federal Republic of Nigeria. This act caused harm to the public, constituting an offense.”
COUNT 4: “On or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, GODWIN IFEANYI EMEFIELE knowingly violated Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124,860,227,865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly. This action resulted in harm to the public, constituting an offense.”
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