Emefiele faces new fresh charges of illegal printing of naira notes

Tamarauemi Ebimini

The Economic and Financial Crimes Commission (EFCC) has filed new charges against Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

EFCC accuses Emefiele of illegally printing naira notes in its fresh charge and approving unauthorised withdrawals from public funds.

The four-count charges by EFCC allege that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.

The anti-graft agency also accused Emefiele of approving the withdrawal of N124.8 billion from the consolidated revenue fund “in a manner not prescribed by the national assembly.”

“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,” another charge reads.

Emefiele is expected to be arraigned before Justice Maryann Anenih of the Federal Capital Territory High Court on Wednesday.