The Economic and Financial Crimes Commission (EFCC) has initiated fresh charges against the former governor of the Central Bank of Nigeria, Godwin Emefiele, at the High Court of the Federal Capital Territory.
The EFCC alleges that Emefiele approved the printing of N684,590,000 at the rate of N18.96 billion, purportedly in violation of the law during his implementation of the naira swap policy under the administration of former President Muhammadu Buhari.
According to documents obtained by PUNCH Online, Emefiele faces accusations of unlawfully authorizing the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
The charges, dated April 2, 2024, and marked Suit No: CR/264/2024, were filed by EFCC’s top prosecutor, Rotimi Oyedepo, SAN. Emefiele is set to be arraigned on a four-count charge before Justice Hamza Muazu, with allegations including disobeying the law to punish Nigerians, illegal printing of money, and abuse of office.
The charges detail Emefiele’s alleged violation of Section 19 of the CBN Act, 2007, by approving the printing of various denominations of currency without the required recommendation of the Central Bank Board and the strict approval of the President of Nigeria.
This development comes after Emefiele’s previous arraignment on November 18, 2023, on six counts of procurement fraud, constituting one of the most prominent corruption cases under President Bola Ahmed Tinubu’s administration. Among the accusations, Emefiele was charged with abusing his office by approving contracts for the acquisition of 43 vehicles totaling N1.2 billion from 2018 to 2020.
Additionally, on April 8, 2024, the EFCC brought further charges against Emefiele and Henry Omoile before Justice R.A. Oshodi of the Special Offences Court in Ikeja, Lagos, alleging a $4.5 billion and N2.8 billion fraud.
