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Naira swap: EFCC slams fresh charge on Emefiele for printing N684.5m with N18.9bn - DAILY POST

APRIL 24, 2024

The Economic and Financial Crimes Commission, EFCC, has slammed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.

According to the charge, EFCC accused Emefiele of approving the printing of N684,590,000 at N18.96 billion.

In a four-count charge sheet seen on Tuesday, the EFCC alleged that Emefiele broke the law with intent to harm the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

“That you, GODWIN IFEANYI EMEFIELE, between the 19th day of October 2022 and March 5 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”, the charge partly reads.

Recall that Emefiele was on November 18, 2023, arraigned before the court on six counts of procurement.

He was also accused of abusing his office by approving a contract to acquire 43 vehicles totalling N1.2 billion from 2018 to 2020.

On Monday, April 8, 2024, the EFCC arraigned the former banker alongside one Henry Omoile before Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos, for an alleged $4.5 billion and N2.8 billion fraud.

On June 9, 2023, Emefiele was suspended by President Bola Ahmed Tinubu.

Since then, the government has investigated the management of the CBN during his tenure.


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