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Naira Printing: ‘I’m Not Guilty Of EFCC’s Fresh Charge,’ Emefiele Pleads

Published

2 years ago

May 15, 2024

The embattled former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has pleaded not guilty to the allegation that he unlawfully printed Naira Notes while he held sway at the apex bank.

The Economic and Financial Crimes Commission, EFCC, alleged that Emefiele had without authorization from former President Muhammadu Buhari, printed N684million Notes with the total sum of N18.96billion.

Besides, the anti-graft agency accused the former CBN boss of unlawfully approving the withdrawal of about N124.8bn from the consolidated revenue fund.

According to the EFCC, the defendant, acting in violation of law and “with intent to cause injury to the public,” okayed the printing of naira notes without the approval of both the former President, Muhammadu Buhari and the board of the CBN.

However, when the four-count charge was read to the defendant before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory, FCT, he pleaded his innocence to the allegation.

While the prosecution counsel, Mr. Rotimi Oyedepo, SAN, requested for a date for the commencement of full hearing in the matter, the defendant, through his team of lawyers prayed the court to allow him to go home on bail, pending the determination of the case against him.

Specifically, the charge against the former CBN Governor, read: “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.

“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.”

It will be recalled that President Bola Tinubu had on June 9, 2023, suspended Emefiele from office as the head of the apex bank.

He was later arrested at his Lagos residence by DSS operatives.

The former CBN boss was subsequently transferred to the custody of the EFCC, which on November 28, 2023, docked him on a six-count charge that bordered on his alleged involvement in procurement fraud.

Though Emefiele, who initially spent 151 days in custody of security agencies, was later granted bail to the tune of N300million and ordered to produce two sureties that the trial court stressed must be Abuja residents that have landed property within the Maitama District, the defendant could not perfect the conditions till December 23, 2023, when he was released from Kuje prison where he spent about 34 days.

The defendant had since then, faced various charges, both in Abuja and Lagos.

News

YULETIDE: UBTH CMD Charges Nigerians To Be Hopeful In Coming Year

Published

2 hours ago

December 25, 2025

Editor

The Chief Medical Director of the University of Benin Teaching Hospital (UBTH), Prof. Idia Ize-Iyamu has urged Nigerians to remain optimistic about the upcoming year, despite current challenges.

Prof. Ize-Iyamu expressed optimism that the coming year would bring improvements for everyone.

The CMD made these remarks during the Nine Lessons and Carol night /End of Year Party organized by UBTH for staff and students held in Benin.

Prof. Ize-Iyamu encouraged everyone to place their trust solely in Christ to overcome the numerous challenges facing the country.

She expressed her gratitude to the hospital community for their support during her first four months in office.

Prof. Ize-Iyamu assured them that the coming years hold many opportunities and that hope in Christ would transform lives daily, just as Christ’s birth brings joy and is the reason for the season.

She also extended her appreciation to everyone in the spirit of the season.

“I want to appreciate everyone in the spirit of the season. Our commitment to excellence and professionalism remains at UBTH.

“UBTH CARES and just like Christ cares. As we celebrate Christ and the season. Let’s hope on him. When you have Christ, you have hope.We are hopeful that the coming year will be better as a people and institution,” Ize-Iyamu said.

The ceremony’s highlight featured a visit to the hospital wards where the CMD distributed gifts to patients and newborns, with management, staff, and students in attendance.

News

Christmas: Edo Deputy Gov Preaches Unity, Hope

Published

2 hours ago

December 25, 2025

Editor

The Deputy Governor of Edo State, Hon. Dennis Idahosa has called on residents of the state to embrace unity, love, and renewed hope as Christians celebrate Christmas.

In a statement by his Chief Press Secretary, Mr Friday Aghedo, Idahosa emphasised that Christmas represents values that unite people, regardless of tribe, religion, or politics, promoting compassion, generosity, and peace.

He described the birth of Jesus Christ as a timeless reminder of the values of peace, sacrifice, and compassion, which he said are critical to societal growth and harmonious coexistence.

He urged Edo people to take advantage of the festive season to strengthen communal ties, extend goodwill to the less privileged, and recommit themselves to the collective development of the state.

The deputy governor further said that Christmas underscores the importance of shared humanity and collective responsibility in building a prosperous society.

“Christmas is a season that reminds us of the power of hope and shared humanity.

“As a people, we must continue to stand together, support one another, and work collectively for a more prosperous Edo State,” Idahosa said.

He reassured residents of the state of the firm commitment of the Governor Monday Okpebholo-led administration to enthrone good governance, inclusive development, and people-oriented policies aimed at improving the welfare and well-being of all Edo citizens.

Idahosa also appealed to residents to celebrate the season responsibly and sustain peace and harmony before, during, and after the festivities.

He wished Christians a joyous Christmas celebration and prayed for a peaceful, progressive, and prosperous Edo State.

News

YULETIDE: Edo Sports Commission Boss Preaches Unity, Peace

Published

13 hours ago

December 25, 2025

Editor

The Executive Chairman of the Edo State Sports Commission, Hon. Amadin Desmond Enabulele, has extended warm Christmas greetings to athletes, coaches, sports administrators, journalists, and the people of Edo State, urging them to uphold the enduring values of love, peace, and unity that define the festive season.

In a statement issued by his Media Officer, Edoko Wilson Edoko, Hon. Enabulele described Christmas as a period of reflection, gratitude, and renewed commitment to collective progress and shared responsibility.

“I sincerely appreciate all stakeholders in the sports sector for their cooperation, resilience, and unwavering support throughout the year. Your contributions have been instrumental to the growth and success of sports in Edo State,” he said.

He further commended Edo athletes for their dedication and discipline, noting that their consistent performances have continued to bring pride and recognition to the state at both national and international levels.

According to him, the Commission remains committed to athletes’ welfare, grassroots sports development, and the creation of opportunities that will enable talents to flourish.

Enabulele also called on residents of the state to celebrate responsibly and show compassion to one another, particularly the less privileged, emphasizing that unity and peaceful coexistence are vital for sustainable development.

He reaffirmed the Edo State Sports Commission’s resolve to strengthen collaboration with partners and stakeholders in the coming year, with increased focus on excellence, transparency, and inclusive sports development.

The Sports Commission boss concluded by wishing everyone a joyous Christmas celebration and a prosperous New Year filled with hope, good health, and greater achievements.