An Economic and Financial Crimes Commission (EFCC) witness, Emere Chinedu, on Wednesday told the High Court of the Federal Capital Territory (FCT) that the Presidency under the late President Muhammadu Buhari, in a letter to EFCC, admitted approving former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to redesign the Naira notes.
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EFCC is prosecuting Emefiele before Justice Maryanne Anenih, sitting at Maitama, Abuja, on a four-count charge bordering on disobedience to the direction of law and illegal act causing injury to the public.
In the charge, marked FCT/HC/CR/264/2024, Emefiele was, among others, alleged to have between October 19, 2022 and March 5, 2023 disobeyed the direction of Section 19 of CBN Act by approving the printing of 375,520,000 pieces of colour swapped N1,000 notes at a total cost of N11,052,068,062 without the recommendation of the CBN Board and strict approval of the President, Federal Republic of Nigeria, which caused injury to the public.
The offences allegedly committed by him, according to EFCC, were against Section 123 of the Penal Code, Cap 89 Laws of the Federation, 1990 and punishable under the same law.
He, however, pleaded not guilty to the charge.
While being cross-examined by counsel for Emefiele, Olalekan Ojo SAN, at the resumed gearing in the case today, Chinedu, who is the seventh prosecution witness (PW7), told the court that in its letter to EFCC, the Presidency indicated that it directed the former CBN governor to print the new notes locally, contrary to the eventual printing some outside the country.
The PW7, who was the head of the inter-agency probe panel that investigated Emefiele, told the court that in the course of the investigation, the former CBN boss made six separate extrajudicial statements on October 26, 27, 30 and 31, 2023 and November 1 and 2, 2023, to defend himself.
According to the prosecution witness, “In the course of our job, we extended our investigation in the State House for record of approval for Naira redesign. Response of the State House was communicated to the EFCC in writing.
“The State House gave approval for the Naira redesign but with a proviso that it must be done locally.”
Contrary to Emefiele’s claim in one of his statements that the former EFCC chairman, Abdulrasheed Bawa, was the first person to suggest naira redesign to the then President Buhari, Chinedu said the commission had no power to propose a change in the colour of the Naira.
He said that anything done in that regard must be advisory.
Questioned on the video clips from various television stations in the country tendered before the court by the prosecution in which Nigerians were seen complaining of hardships caused by the Naira redesign, the witness confirmed to the court that they were in existence before his probe panel was put in place by the Federal Government.
The PW7 informed the court that the videos of news and programmes of the television stations were downloaded from the internet by his probe panel and tendered to show injuries Nigerians suffered during the Naira redesign.
He, however, said he neither knew any staff of the television stations who prepared the video contents nor interviewed any person from any of the television stations.
The case was then adjourned to February 3 for continuation of the hearing.
Meanwhile, Justice Anenih fixed 10 different days to accelerate the trial of the former CBN chief based on the consensus of both prosecuting counsel, Rotimi Oyedepo SAN and Ojo SAN, Emefiele’s counsel.
The judge fixed February 3 and 10, April 1and 2, May 11, 12, 13 and 14 as well as June 9 and 10.
She, however, charged parties to keep faith with the appointed dates, assuring that the court would accommodate them appropriately during the period.
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