Court sets fresh dates to conclude Emefiele trial over naira redesign
A federal high court in Abuja has fixed 10 fresh hearing dates to conclude the trial of the former governor of the Central Bank of Nigeria, Godwin Emefiele, over corruption charges linked to the redesign of the naira.
Justice Maryanne Anenih of the Federal Capital Territory high court set the dates after lawyers to both sides agreed to an accelerated timetable. Counsel to the Economic and Financial Crimes Commission, Rotimi Oyedepo (SAN), and Emefiele’s lawyer, Olalekan Ojo (SAN), told the court they were ready to proceed on the scheduled days.
The trial will continue on 3 and 10 February, 1 and 2 April, 11, 12, 13 and 14 May, and 9 and 10 June. Justice Anenih urged both parties to adhere strictly to the timetable, assuring them that the court would make itself available to ensure the case, which began in 2024, is concluded within the period.
At the hearing, an EFCC operative, Emere Chinedu, told the court that the presidency under the former president Muhammadu Buhari approved the redesign of the naira. Chinedu, who led the inter-agency panel that investigated Emefiele, said the approval was conveyed to the EFCC in writing following an inquiry to the State House.
He said, however, that the approval came with a condition that the new banknotes should be printed locally, rather than abroad, as was done under Emefiele’s leadership of the central bank.
Chinedu also said Emefiele made six extra-judicial statements during the investigation, dated 26, 27, 30 and 31 October, and 1 and 2 November 2023, in which he sought to defend himself against the allegations.
“In the course of our investigation, we extended our inquiry to the State House for records of approval for the naira redesign,” the witness said. “The State House gave approval for the naira redesign, but with a proviso that it must be done locally.”
Under cross-examination, Chinedu declined to address Emefiele’s claim that a former EFCC chairman, Abdulrasheed Bawa, was the first to suggest the naira redesign to Buhari. He said the anti-graft agency had no power to propose changes to the colour or design of the naira, adding that any involvement by the EFCC could only be advisory.
The witness also admitted that video clips from television stations showing Nigerians complaining of hardship during the naira redesign predated the setting up of the probe panel. He said the videos were downloaded from the internet and tendered to illustrate the impact of the policy on the public.
Chinedu said he did not know the television staff who produced the footage and that no interviews were conducted with anyone from the stations.
Justice Anenih adjourned the case to 3 February for the continuation of cross-examination.