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EFCC to arraign Emefiele for printing naira notes without strict approval
The Economic and Financial Crimes Commission (EFCC) has filed a fresh four-count charge against Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).
The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.
Emefiele is expected to be arraigned before Maryann Anenih, a judge at the federal capital territory (FCT) high court, on Wednesday.
In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.
The anti-graft agency also accused Emefiele of approving the withdrawal of N124.8 billion from the consolidated revenue fund “in a manner not prescribed by the national assembly”.
“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,” the charge sheet reads.
“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.
“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.
“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.”
NAIRA REDESIGN CONTROVERSY
On October 26, 2022, Emefiele announced the plan to redesign the highest denominations of the country’s currency to control money supply and aid security agencies in tackling illicit financial flows.
Emefiele had said the new notes (N200, N500, and N1000) would be effective from mid-December 2022, advising customers to deposit their old notes before January 31, 2023, when they would cease to be legal tender.
The scarcity of old naira notes sparked violent protests in many parts of the country as banks and automated teller machines (ATMs) were torched.
Many analysts had argued that the naira redesign policy was politically motivated.
On numerous occasions, Buhari expressed approval for the naira redesign policy.
In November 2023, Buhari explained why he approved the naira redesign policy.
MULTIPLE TRIALS
Emefiele is currently facing multiple trials over his management of public funds and decisions taken while he was governor of the apex bank.
In November 2023, Emefiele was arraigned before Hamza Muazu, a judge at the FCT high court, on a six-count charge bordering on alleged criminal breach of trust, forgery, conspiracy to commit forgery, procurement fraud, and conspiracy to commit a felony.
The charge which was formerly six counts, had been increased to 20 counts.
The former CBN governor pleaded not guilty.
News
NDLEA trains officers to tackle cross-border drug smuggling
The National Drug Law Enforcement Agency has organised advanced training programmes for its officers in the Advance Passenger Information System and Passenger Targeting/Intelligence Gathering.
The training aimed to strengthen the agency’s ability to target and intercept high-risk passengers, cargo, and mail, combating illicit drug trafficking.
It also sought to improve international collaboration between countries of origin, transit, and destination to dismantle cross-border criminal networks.
In a statement on Friday, the agency’s spokesperson, Femi Babafemi, said the training, which was facilitated by the United Nations Office on Drugs and Crime, was held recently in Côte d’Ivoire and Abuja.
“Two key NDLEA Commanders, ACGN Usman Ali Wadar of the Murtala Muhammed International Airport Strategic Command and CN Mohammed Ajiya of the Nnamdi Azikiwe International Airport participated in the six-day training in Abidjan. Additionally, 13 officers from MMIA and NAIA underwent a five-day session in Abuja. The officers are now tasked with cascading their newfound knowledge to their colleagues,” he added.
He said the Chairman/Chief Executive Officer, Brig. Gen. Buba Marwa (retd.) lauded the officers for their commitment, urging them to integrate the newly acquired skills into their daily operations at the airports to enhance security and disrupt drug trafficking networks.
News
Peter Obi offers to fulfill bail conditions for Farotimi
2023 Labour Party presidential candidate, Peter Obi, has pledged to fulfill the bail conditions of human rights lawyer Dele Farotimi.
Farotimi was granted bail by an Ekiti Magistrate Court in a defamation case involving Afe Babalola.
The bail conditions require a N30 million bond, two sureties (one of whom must own a house), surrendering his passport, and refraining from granting media interviews.
Peter Obi’s decision was announced by Tanko Yunusa, a former spokesperson for Obi’s 2023 presidential campaign, in a statement shared on Friday via his X account.
Yunusa explained that Obi, as a proponent of the rule of law, wanted the issue resolved in a way that respects legal processes and benefits everyone involved.
“I consulted His Excellency, Peter Obi, as the leader of the Obidient Movement. As a respecter of rule of law, due process, and order, he offered to take Dele Farotimi on the bail conditions,” Yunusa stated.
He further conveyed Obi’s gratitude to the courts and others involved in the matter. “His concern is that the situation be resolved in the best interest of all parties and our legal system. He extended his sincere appreciation to all concerned,” Yunusa added.
News
Court remands activist charged for cursing Seyi Tinubu, Egbetokun in Facebook video
The federal high court in Abuja has remanded Olamide Thomas, an activist, charged for her social media comments against Seyi Tinubu, son of President Bola Tinubu.
On Friday, Emeka Nwite, the presiding judge, rejected the oral bail application filed by the counsel to Thomas.
Nwite directed the defence counsel to file a formal bail application.
The activist was arraigned on a three-count charge bordering on cyberbullying.
She pleaded not guilty to the charges.
THE CHARGE
The police accused Thomas of sharing a video on social media in which she stated that “Mr Seyi Tinubu will die this year”.
“That you OLAMIDE ABIODUN THOMAS ‘F’, sometime in 2024, in the Federal Republic of Nigeria within the jurisdiction of this Honourable Court did knowingly and intentionally transmit or cause the transmission of communication in the form of video recording through computer system or network on your Social media platforms wherein you made remarks in Yoruba language stating that Mr. Seyi Tinubu will die this year, and misfortune and calamity has befallen the Tinubu family, with intent to bully, threaten, harass the person of Mr. Seyi Tinubu, where such communication places the said Mr. Seyi Tinubu in fear of death, violence or bodily harm and you thereby commit an offence contrary to and punishable under section 24 (2) (a) Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024,” the first count reads.
In the second count, the police accused Thomas of threatening and bullying Kayode Egbetokun, the inspector-general of police (IGP), in the said video.
In the third count, the police accused the activist of saying that the children of Muyiwa Adejobi, the force spokesperson, would die before his eyes.
The trial judge adjourned the case to December 30 for trial.
THE ARREST
On December 13, the activist, who is also a nurse, was arrested in Lagos over allegations of cyberbullying.
She was accused of making insulting words against Tinubu’s son, Egbetokun, and Adejobi in a Facebook video recorded after she was arrested by the police on October 20, 2024.
The activist was among the protesters arrested by the police during the rally to commemorate the fourth anniversary of #EndSARS at the Lekki tollgate in Lagos.
After her arrest in Lagos, she was taken to Abuja.
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