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EFCC files fresh charge against Emefiele


Godwin Emefiele

The Economic and Financial Crimes Commission has initiated a new lawsuit against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele, with fresh charges filed at the High Court of the Federal Capital Territory.

In the latest development, the EFCC has accused Emefiele of authorizing the printing of N684,590,000 at the rate of N18.96 billion, allegedly in violation of the law during his implementation of the naira swap policy under the administration of former President Muhammadu Buhari.

According to the PUNCH, the charge sheet showed that the anti-graft agency also alleges that Emefiele unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

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The document, dated April 2, 2024, and marked Suit NoCR/264/2024, was filed by the EFCC’s top prosecutor, Rotimi Oyedepo, SAN. Emefiele is set to be arraigned on a new four-count charge before Justice Hamza Muazu, with accusations including disobeying the law to the detriment of Nigerians, illegal printing of money, and abuse of office.

The charges specify instances where Emefiele purportedly violated the Central Bank of Nigeria Act, 2007, by approving the printing of various denominations of currency without the necessary recommendations and approvals. It is alleged that these actions caused injury to the public.

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The document partly read, “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 color 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 offense.”

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Emefiele, who was previously arraigned before the court on six counts of procurement fraud, is facing what is arguably one of the most significant corruption cases during President Bola Ahmed Tinubu’s administration.

Among previous accusations, Emefiele allegedly abused his office by approving a contract to acquire 43 vehicles totaling N1.2 billion from 2018 to 2020.

In a separate case, on Monday, April 8, 2024, the EFCC arraigned Emefiele alongside Henry Omoile before Justice R.A. Oshodi of the Special Offences Court sitting in Ikeja, Lagos, for alleged involvement in a $4.5 billion and N2.8 billion fraud scheme.