“Godwin Emefiele Printed N684.5m Notes With N18.9bn” — EFCC Alleges In Fresh Charges

The Economic and Financial Crimes Commission (EFCC) has filed a fresh charge against former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at the High Court of the Federal Capital Territory.

In the fresh four-count charge, the EFCC alleged that Emefiele approved the printing of N684,590,000 at a rate of N18.96 billion.

The EFCC accused the Emefiele of breaching the law and causing harm to the public during the implementation of the naira swap policy under the administration of former President Muhammadu Buhari.

The anti-graft agency further accused the former CBN governor of unlawfully authorizing the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

Dated April 2, 2024, and marked as Suit No: CR/264/2024, the charge was filed by EFCC’s lead prosecutor, Rotimi Oyedepo, SAN.

Emefiele is set to be arraigned before Justice Hamza Muazu, facing allegations including disobeying the law with intent to harm the public, illegal printing of money, abuse of office, among others.

Counts one to four of the charge, read, “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 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.”

“COUNT 2: “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.

“COUNT 3: “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.”

“COUNT 4: “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.”

KanyiDaily recalls that Ikeja High Court in Lagos recently remanded Godwin Emefiele in the custody of the EFCC.