The Economic and Financial Crimes Commission (EFCC) has once again set its sights on former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, filing fresh charges against him at the High Court of the Federal Capital Territory. This time, the allegations are seismic, accusing Emefiele of greenlighting the printing of a staggering N684,590,000 at a mind-boggling rate of N18.96 billion.
In a dramatic twist revealed in charge sheets obtained by Findwhosabi Online, the EFCC alleges that Emefiele flouted the law with apparent intent to harm the public during the implementation of the naira swap policy under former President Muhammadu Buhari’s administration. The anti-graft agency further claims that Emefiele unlawfully sanctioned the withdrawal of a jaw-dropping N124.8 billion from the Consolidated Revenue Fund of the Federation.
Marked with a sense of urgency, the document, dated April 2, 2024, and identified as Suit No: CR/264/2024, unveils a four-count charge to be leveled against Emefiele before Justice Hamza Muazu. The charges span a range of alleged offenses including disobeying the law to punish Nigerians, illegal money printing, and abuse of office.
The first four counts of the charge read as follows:
Count 1: Emefiele is accused of knowingly disobeying Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of color-swapped N1,000 notes, costing a staggering N11,052,068,062, without the recommendation of the CBN Board and the strict approval of the President of Nigeria. This act, according to the EFCC, caused injury to the public, constituting a punishable offense under Section 123 of the Penal Code Law.
Count 2: Similar to Count 1, Emefiele allegedly disobeyed Section 19 of the CBN Act, 2007, by approving the printing of 172,000,000 pieces of color-swapped N500 notes, costing N4,471,066,040, without proper recommendation and approval.
Count 3: Emefiele is accused of disobeying Section 19 of the CBN Act, 2007, yet again, by approving the printing of 137,070,000 pieces of color-swapped N200 notes, costing N3,441,005,280, without due recommendation and approval.
Count 4: Emefiele is charged with knowingly disobeying Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of N124,860,227,865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly.
This latest legal tangle comes hot on the heels of Emefiele’s previous court appearance on November 18, 2023, where he faced six counts of procurement fraud, marking one of the most high-profile corruption cases under President Bola Ahmed Tinubu’s tenure. Among other allegations, Emefiele was accused of abusing his office by greenlighting a contract for the acquisition of 43 vehicles totaling N1.2 billion between 2018 and 2020.
Adding fuel to the fire, on Monday, April 8, 2024, the EFCC brought Emefiele to court once more, this time alongside one Henry Omoile, before Justice R.A. Oshodi of the Special Offenses Court in Ikeja, Lagos, for an alleged $4.5 billion and N2.8 billion fraud.
