The Economic and Financial Crimes Commission (EFCC) has escalated its legal battle against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, accusing him of approving the printing of N684.5 million notes valued at N18.96 billion.
Appearing before Judge Maryann Anenih of the Federal Capital Territory (FCT) High Court on Wednesday, May 15, Emefiele pleaded not guilty to the four-count charge leveled against him.
The charges brought by the EFCC allege that Emefiele violated laws and acted against public interest during the implementation of the naira swap policy under the administration of former President Muhammadu Buhari. Additionally, the commission accuses Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
This is not the first time Emefiele has faced legal scrutiny. On November 17, 2023, he stood trial before Justice Hamza Muazu on a six-count charge of procurement fraud, where he pleaded not guilty. Among the accusations were claims of office abuse through the approval of a contract for the acquisition of 43 vehicles totaling N1.2 billion between 2018 and 2020.
In another legal skirmish, on April 8, 2024, the EFCC arraigned Emefiele alongside Henry Omoile before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, for an alleged $4.5 billion and N2.8 billion fraud. Emefiele once again asserted his innocence in response to the charges.
