Former Governor, Emefiele, Pleads Not Guilty in Court

The former Governor of Central Bank of Nigeria (CBN), Godwin Emefiele was brought to trial by the Economic and Financial Crime Commission ( EFCC).
The EFCC arraigned Emefiele on Wednesday for approving the printing of N684.5 million notes at the rate of N18.96 billion without the authorization of both the former President, Muhammadu Buhari and the board of directors of CBN.
The former governor appeared before Justice MaryAnn Anenih of the Federal Capital Territory High Court on four counts which he pled not guilty to the allegations.
Meanwhile , the anti- graft agency also accused the former governor of CBN for unlawfully approving the withdrawal of about N124.8bn from the consolidated revenue fund.
The EFCC also accused Emefiele of disobeying the direction of law with the intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.
The charge against Emefiele dated April 2,2024 was filed by the EFCC prosecutor Rotimi Oyedepo (SAN) alongside eight other lawyers acting on behalf of the Attorney General of the federation.
Emefiele through his team of lawyers applied for bail and they assured the court that he will always be present in court to face trial.
After staying in the custody of security agencies, Emefiele was later granted bail of N300m and was ordered to produce 2 sureties that must be Abuja residents who have Land properties within the Maitama district.
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, at the total cost of N4, 471,066,040 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 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 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 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, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of 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, which conduct of yours caused injury to the public and you thereby committed an offence.”