Ex-CBN gov. Emefiele arraigned for printing N684 million notes with N18.96 billion


The Economic and Financial Crimes Commission (EFCC) has arraigned embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for the of printing of N684.5 million at the rate of N18.96 billion.

The ex-CBN governor was arraigned on Wednesday, May 15, before judge Maryann Anenih, of a federal capital territory (FCT) high court, and pleaded not guilty to the four count charge.

In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause harm to the public during his implementation of the naira swap policy under ex president Muhammad Buhari.

The EFCC also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

It would be recalled that back in November 17, 2023, Channel Television reports that Emefiele was arraigned before Justice Hamza Muazu on a six-count charge of procurement fraud to which he pleaded not guilty.

Emefiele was also accused of abusing his office by approving a contract for the acquisition of 43 vehicles totaling N1.2 billion from 2018 to 2020.

On April 8, 2024, the EFCC also arraigned the former apex bank governor alongside one Henry Omoile before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos for an alleged $4.5bn and N2.8bn fraud.

Emefiele, however, pleaded not guilty to all the charges.


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