The Economic and Financial Crimes Commission (EFCC) is preparing to arraign former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Wednesday over allegations of approving the printing of N684.5 million at an inflated rate of N18.96 billion.
Initially slated for April 30, 2024, the arraignment was rescheduled following mutual agreement between the court and the involved parties.
In a four-count charge brought against him, the EFCC accuses Emefiele of flouting legal directives with the intention to harm the public while implementing the naira swap policy during the tenure of former President Muhammadu Buhari.
Additionally, the anti-graft agency alleges that Emefiele unlawfully sanctioned the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
Sources indicate that the former CBN governor will face these charges before Justice Maryann Anenih of the FCT High Court, Abuja.
This impending arraignment marks the third set of charges against Emefiele.
Previously, on Nov. 17, 2023, Emefiele faced a six-count charge of procurement fraud before Justice Hamza Muazu, to which he pleaded not guilty. Among the allegations was the approval of a contract for the acquisition of 43 vehicles amounting to N1.2 billion from 2018 to 2020.
Moreover, on April 8, 2024, Emefiele was arraigned alongside Henry Omoile before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, over an alleged $4.5 billion and N2.8 billion fraud, to which he also pleaded not guilty.
The latest charge, dated April 2, 2024, was filed by EFCC prosecutor Rotimi Oyedepo (SAN) alongside eight other lawyers representing the Attorney General of the Federation.
Counts one to four of the charge, reads, “STATEMENT OF OFFENCE: Public Servant disobeying direction of law with intent to cause injury to the public contrary to and punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.
“PARTICULARS OF THE OFFENCE: 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.”
COUNT 2: “That you, GODWIN IFEANYI EMEFIELE, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4, 471,066,040 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.
COUNT 3: “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 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 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.”
COUNT 4: “That you, GODWIN IFEANYI EMEFIELE, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124, 860, 227, 865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”
