Former Governor, of Central Bank of Nigeria (CBN), Godwin Emefiele, facing charges of illegally printing Naira Notes during his time at the apex bank, has entered a plea of not guilty. The Economic and Financial Crimes Commission (EFCC) claims that Emefiele, without authorization from former President Muhammadu Buhari, printed N684 million worth of notes totaling N18.96 billion.
In addition, the EFCC alleges that the ex-CBN chief unlawfully approved the withdrawal of around N124.8 billion from the consolidated revenue fund. Emefiele is accused of printing Naira notes without the required approval from both former President Buhari and the CBN board, acting against the law and with the intention to harm the public.
At his court appearance before Justice Maryann Anenih of the High Court of the Federal Capital Territory, Emefiele denied the accusations brought against him by the prosecution. The prosecution requested a trial date while Emefiele’s legal team asked for bail until the case’s conclusion.
The charges against Emefiele include disobeying the CBN Act by authorizing the printing of N1,000, N500, and N200 notes without proper approval, causing harm to the public. Emefiele was suspended from office by President Bola Tinubu and later arrested by the State Security Service (SSS) at his Lagos home. After spending time in custody, he was granted bail but faced various charges in both Abuja and Lagos.
