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EFCC slams fresh charge on Emefiele, claims N684.5m notes printed using N18.9bn

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EFCC slams fresh charge on Emefiele, claims N684.5m notes printed using N18.9bn

The former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is set to face new charges from the Economic and Financial Crimes Commission (EFCC) for his alleged involvement in approving the printing of N684.5m notes using N18.9bn.

In a recent 4-count charge filed against Emefiele, the EFCC claims that he disregarded legal directives, intending to harm the public through his implementation of the naira swap policy under the former President Muhammadu Buhari’s administration.

Additionally, the anti-graft agency accuses Emefiele of irregularly authorising the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

Scheduled for arraignment before Justice Maryann Anenih of the FCT High Court in Abuja on April 30, this legal action will make it the third set of charges against the ex-CBN governor.

Previously on Nov. 17, 2023, Emefiele was arraigned before Justice Hamza Muazu on a 6-count charge related to procurement fraud, to which he pleaded not guilty.

In another case in April 8, 2024, the EFCC arraigned Emefiele and one Henry Omoile before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, for their alleged involvement in a $4.5bn and N2.8bn fraud, to which both have pleaded not guilty.

The new charge, dated April 2, 2024, was filed by the EFFC prosecutor, Senior Advocate of Nigeria, Rotimi Oyedepo alongside 8 other lawyers acting on behalf of the Attorney General of the Federation.

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.”

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