EFCC Files New Charges Against Emefiele, Accusing Him of Printing N684.5m Notes with N18.9bn

The Economic and Financial Crimes Commission (EFCC) has filed a fresh charge against Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN). 

In the four-count charge, the anti-graft agency accused Emefiele of approving the printing of N684,590,000 notes at the rate of N18.96 billion.

In the fresh charge filed, the commission alleged that Emefiele broke the law with intent to harm the public during his implementation of the naira swap policy under the administration of former President Muhammadu Buhari.

The agency also accused the former CBN governor of unlawfully approving the withdrawal of N124.8 billion from the consolidated revenue fund of the federation.

The former CBN governor is expected to be arraigned on these counts before Maryann Anenih, judge of a federal capital territory (FCT) high court, on April 30.

This would be the third criminal case pending against Emefiele. On November 17, 2023, Emefiele was arraigned before Hamza Muazu, a judge of the Federal Capital Territory (FCT) high court, on a six-count charge of procurement fraud, to which he pleaded not guilty.

The charge has since been amended to 20 counts bordering on alleged criminal breach of trust, forgery, conspiracy to commit forgery, procurement fraud and conspiracy to commit a felony.

On April 8, the EFCC also arraigned the former CBN governor, alongside one Henry Omoile, an official of the apex bank, before Rahman Oshodi of the special offences court sitting in Ikeja, Lagos over an alleged $4.5billion and N2.8 billion fraud.