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

In the Federal Capital Territory’s High Court, the Economic and Financial Crimes Commission, or EFCC, has levied a new accusation against Godwin Emefiele, the beleaguered former governor of the Central Bank of Nigeria.

Emefiele was charged by the EFCC with authorising the printing of N684,590,000 at N18.96 billion.

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

Emefiele was also charged by the anti-graft agency with illegally authorising the removal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

“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.

Remember that Emefiele was arraigned before the court on November 18, 2023, on six counts related to procurement.

Additionally, he was charged with misusing his position when he signed a deal to buy 43 cars for N1.2 billion between 2018 and 2020.

The former banker was charged by the EFCC on Monday, April 8, 2024, for an alleged $4.5 billion and N2.8 billion fraud before Judge R.A. Oshodi of the Special Offences Court located in Ikeja, Lagos, along with a man named Henry Omoile.

President Bola Ahmed Tinubu suspended Emefiele on June 9, 2023.

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

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