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EFCC to Arraign Former CBN Governor Godwin Emefiele on Fresh Charges

These charges, outlined in a 4-count indictment, accuse Emefiele of authorizing the printing of N684.5 million worth of notes at the cost of N18.96 billion, allegedly violating legal directives and causing public injury, particularly in his implementation of the naira swap policy during the administration of former President Muhammadu Buhari. Additionally, the EFCC alleges that Emefiele unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation. Scheduled before Justice Maryann Anenih of the FCT High Court, Abuja on April 30, this marks the latest legal action against Emefiele, adding to previous charges of procurement fraud and allegations of office abuse.

Published

1 week ago

April 24, 2024

Stella Charles Akupue

EFCC to Arraign Former CBN Governor Godwin Emefiele on Fresh Charges

The Economic and Financial Crimes Commission (EFCC) is poised to arraign Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), on fresh charges of alleged misconduct during his tenure.

The charges, contained in a four-count indictment, accuse Emefiele of authorising the printing of N684.5 million worth of notes for N18.96 billion in contravention of the law.

According to the EFCC, Emefiele is alleged to have flouted legal directives with the intent to cause public injury, particularly in his implementation of the naira swap policy during the administration of former President Muhammadu Buhari.

Additionally, the anti-graft agency accuses him of unlawfully approving the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

He printed N684.5m notes with N18.9bn EFCC to arraign Emefiele on a fresh charge.

Emefiele faces accusations of disobeying laws and causing public injury

The arraignment, scheduled before Justice Maryann Anenih of the FCT High Court, Abuja, on April 30, marks the latest legal action against Emefiele, bringing the total number of charges against him to three.

Previously, he faced a 6-count charge of procurement fraud and allegations of abusing his office by approving contracts totaling N1.2 billion to acquire vehicles. He also faced charges alongside Henry Omoile for alleged $4.5 billion fraud and N2.8 billion fraud.

The fresh charges, filed by EFCC prosecutor Rotimi Oyedepo, accuse Emefiele of violating the law by approving the printing of various denominations of naira notes without the required recommendation of the Central Bank Board and the president’s approval.

They also allege unauthorised fund withdrawals from the Consolidated Revenue Fund, violating constitutional provisions.

Emefiele, who has pleaded not guilty to previous charges, now faces further legal scrutiny over his actions during his tenure as CBN Governor. The outcome of the upcoming arraignment will be closely watched as the EFCC continues its efforts to combat corruption and ensure accountability in public office.

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