 |
| Emefiele’s Trial: Buhari Authorized Naira Redesign, Says Ex-CBN Director |
The trial of Mr. Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), continued at a High Court in the Federal Capital Territory (FCT) on Tuesday. A principal prosecution witness confirmed that the redesign of the Naira was approved by the former President, Muhammadu Buhari.
Mr. Ahmed Bello Umar, the ex-Director of Currency Operations at the CBN, provided testimony and submitted evidence to Justice Maryann Anenih.
Under the guidance of EFCC's counsel, Mr. Rotimi Oyedepo, SAN, Mr. Umar presented a letter of approval from former President Buhari for the currency's redesign.
This authorization, dated October 6, 2022, and originating from the State House with Buhari's signature, was directed to the CBN during Emefiele's tenure.
The witness confirmed that the approval sanctioned the redesign and issuance of new Naira notes.
The Chief of Staff to President Buhari reportedly delivered the official approval to the CBN.
Mr. Umar also showed design samples authorized by the former President, noting minor differences from the final printed versions by the defendant. For example, while the endorsed samples featured portraits on the right, the printed notes had them on the left.
Additionally, he indicated that the numbering style Emefiele used differed from the bank's standard, and the approved designs included a QR Code, which the final notes lacked.
During cross-examination by Emefiele’s attorney, Mr. Mahmoud Magaji, SAN, Mr. Umar reiterated that the presidency initiated the Naira redesign project.
He recounted that on December 29, 2023, former President Buhari publicly introduced the redesigned notes, making them valid legal tender.
Mr. Umar acknowledged that the reissued currency bore his signature, essential for its legitimacy as legal tender.
Justice Anenih accepted the documents presented by Mr. Umar as exhibits.
Recall that on May 15, the EFCC charged Emefiele with a four-count indictment.
The charges allege that Emefiele printed N684 million notes totaling N18.96 billion without Buhari's authorization and unlawfully approved N124.8 billion from the consolidated revenue fund, breaching the CBN Act and the Constitution.
Emefiele pleaded not guilty and was granted bail for N300 million with two sureties.
The charges detail Emefiele's alleged disobedience to legal directives, causing public harm.
President Bola Tinubu suspended Emefiele on June 9, 2023, followed by his arrest and transfer to EFCC custody, leading to his arraignment for procurement fraud.
After 151 days in detention and 34 days in Kuje prison, Emefiele was released on December 23, 2023, unable to meet bail conditions earlier.
Emefiele has since faced multiple charges in Abuja and Lagos.
