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BREAKING: Emefiele Faces New Charges Over Naira Swap Policy by EFCC

Emefiele Arraigned in Court, Pleads Not Guilty

On Wednesday, former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele appeared before Justice Maryann Anenih of the FCT High Court in Abuja to face charges brought by the Economic and Financial Crimes Commission (EFCC).

Emefiele pleaded not guilty to a four-count charge related to his actions during the implementation of the naira swap policy under former President Muhammadu Buhari’s administration.

The EFCC alleged that Emefiele deliberately disobeyed the law, causing harm to the public, and unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

He was accused of approving the printing of N684.5 million at an exchange rate of N18.96 billion.

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READ ALSO: How Emefiele Awarded Contracts to Wife’s Company – Witness

The development marks the third set of charges against Emefiele. On November 17, 2023, he faced a six-count charge of procurement fraud before Justice Hamza Muazu, to which he also pleaded not guilty.

Furthermore, on April 8, 2024, Emefiele was arraigned alongside Henry Omoile before Justice Rahman Oshodi in Lagos for alleged fraud involving $4.5 billion and N2.8 billion.

The new charge was filed by EFCC prosecutor Rotimi Oyedepo (SAN) and eight other lawyers representing the Attorney General of the Federation on April 2, 2024.

Emefiele’s legal team will respond to the charges in subsequent court proceedings.

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