Emefiele arraigned, pleads not guilty to printing N684m notes with N18.96bn - Ripples Nigeria
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Emefiele arraigned, pleads not guilty to printing N684m notes with N18.96bn



Godwin Emefiele, the embattled former Governor of the Central Bank of Nigeria (CBN) has pleaded not guilty to the allegation of approving the printing of N684.5 million at the rate of N18.96 billion.

Emefiele made the plea during his arraignment on Wednesday by the Economic and Financial Crimes Commission (EFCC) on a fresh four-count charge before Justice Maryann Anenih of the FCT High Court, Abuja.

In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

READ ALSO:EFCC files fresh charges against Emefiele over printing of Naira notes

According to EFCC, Emefiele also unlawfully approved the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

One of the charges 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 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.”

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