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The Economic and Financial Crimes Commission (EFCC) is set to arraign former Central Bank of Nigeria (CBN) Governor Godwin Emefiele on a fresh charge involving the printing of N684.5 million notes at the cost of N18.9 billion.
This new development comes as part of the ongoing legal battles faced by Emefiele, who is also facing two other criminal cases.
According to the EFCC, Emefiele is accused of breaking the law with the intent to harm the public during the implementation of the naira swap policy under former President Muhammadu Buhari’s administration.
The anti-graft agency also claims that Emefiele unlawfully approved the withdrawal of N124.8 billion from the consolidated revenue fund of the federation.
The case against Emefiele is scheduled for arraignment before Maryann Anenih, a judge of the Federal Capital Territory (FCT) High Court, on April 30, 2024. This will be the third criminal case pending against the former CBN Governor.
On November 17, 2023, Emefiele was arraigned on a six-count charge of procurement fraud, to which he pleaded not guilty.
The charge has since been amended to 20 counts, including allegations of criminal breach of trust, forgery, conspiracy to commit forgery, procurement fraud, and conspiracy to commit a felony.
The outcome of this case could have significant implications for the reputation of the CBN and the broader financial sector in Nigeria.
As the legal battle unfolds, it highlights the importance of transparency and accountability in the management of public funds and the potential consequences of alleged financial misconduct.
As the arraignment date approaches, the public and the financial community will be closely watching to see how this high-profile case develops and the impact it may have on the country’s financial landscape.
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