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Emefiele Printed N684.5m With N18.9bn- EFCC 

The Economic and Financial Crimes Commission (EFCC) has intensified its legal pursuit of the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele, as a fresh charge has been filed against him at the High Court of the Federal Capital Territory.

In the latest charge, the EFCC alleges that Emefiele approved the printing of N684,590,000 at the rate of N18.96 billion, purportedly in violation of the law and with the intent to harm the public interest during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

According to documents dated April 2, 2024, and marked Suit No: CR/264/2024, filed by EFCC’s top prosecutor, Rotimi Oyedepo, SAN, Emefiele is set to face a new four-count charge before Justice Hamza Muazu. 

The charges include disobeying the law to punish Nigerians, illegal printing of money, abuse of office, among others.

The allegations in the charge sheets suggest that Emefiele knowingly disobeyed the direction of the Central Bank of Nigeria Act, 2007, by approving the printing of various denominations of currency without the necessary recommendations and approvals. 

This, according to the EFCC, caused injury to the public and constitutes an offense punishable under relevant sections of the law.

The EFCC’s pursuit of Emefiele has been relentless, as this latest charge follows previous accusations of procurement fraud and abuse of office. 

Emefiele was previously arraigned before the court on six counts of procurement fraud, including allegations of approving contracts totaling N1.2 billion for the acquisition of 43 vehicles from 2018 to 2020.

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

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