Former CBN governor Godwin Emefiele printed his own design of the new naira note against the approved designed by the former President Buhari.
Ahmed Umar, the former director of currency operations at the Central Bank of Nigeria (CBN), testified before the FCT High Court in Maitama that the former governor of the CBN, Godwin Emefiele, printed a different design of the Naira than what was initially approved.
During his testimony, Umar detailed several discrepancies between the design approved by former President Muhammadu Buhari and the version printed by the CBN under Emefiele’s direction.
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Umar explained that the design approved by the President included a QR code, which is missing from the currency currently in circulation.
Additionally, the approved design placed the portrait on the right side, while the printed version had it on the left.
Furthermore, the number scheme on the printed currency differed from the one approved by the President.
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The President granted approval for the design on October 6, 2022, two months after the CBN board of directors met on December 15, 2022.
According to the CBN Act, the board of directors must make recommendations to the President, who then approves the form, design, and features of any currency note.
However, Umar noted that the former CBN governor obtained the President’s approval before consulting with the board.
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