News

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

Published

1 year ago

May 15, 2024

Editor

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

Out-of-school: Bauchi Education Ministry Takes ‘Back To School’ Campaign To Markets

Published

4 hours ago

October 15, 2025

Editor

The Bauchi State Ministry of Education has launched a sensitization campaign on the importance of education across selected market places in the state.

The campaign aims to encourage school enrolment and showcase the infrastructural facilities provided by the Bauchi state government to ensure a conducive environment for learning and teaching in the state.

Speaking during the flag off of the campaign at Gadan-Maiwa Community, Dr. Mohammed Lawal, the state’s Commissioner for Education, emphasized that the marketplaces are ideal locations to promote education, as it is a hub of activity where people gather to buy and sell.

He highlighted the various infrastructural facilities provided by the government, which he said included the mega schools, provision of qualified teachers, and educational materials to woo parents to enroll their wards into school.

The Commissioner noted that the state has made significant progress in reducing the number of out-of-school children.

Lawal stated that the government has implemented a Conditional Cash Transfer (CCT) programme to support the education of girl children, which he said, has recorded significant success.

He therefore urged parents to take advantage of the government’s efforts and send their children to school.

The commissioner also commended Governor Bala Mohammed for his commitment to education and reducing the number of out-of-school children in the state.

On their part, the village head of Gadan-Maiwa, Safiyanu Ahmed, and the Chairman of Gadan-Maiwa motor Park, Alhaji Adamu Abubakar, lauded the government’s initiative and urged parents to support the effort.

The duo also appealed for more teachers to be employed to improve education in the state.

News

How My Fiancée kept Me From Temptations – Singer Spyro

Published

9 hours ago

October 15, 2025

Editor

Nigerian singer, Oludipe Oluwasanmi David, popularly known as Spyro, has revealed that his fiancée, Janet Atom, keeps him him grounded and away from temptations.

The ‘Who’s Your Guy’ crooner shared that before meeting his fiancée he was “tempted” by ladies, especially in Lekki.

Hailing his fiancée as his “Jesus baddie,” he appreciated her for changing his life.

The singer captioned a picture of his fiancée via Instagram; “Eiii God! My very own Jesus baddie @_callme_njure.

“Thank you again for saving me from Lekki girls o, na me know wettin my eyes see.”

Recall that Spyro recently engaged Janet Atom. He disclosed that he met her at a nightclub while announcing their engagement in September.

News

Drama In Abuja Hotel As BBNaija Star, Phyna Creates Scene Over alleged N200,000 Dispute [VIDEO]

Published

9 hours ago

October 15, 2025

Editor

Former Big Brother Naija winner, Ijeoma Josephina Otabor, popularly known as Phyna, was reportedly involved in a heated altercation at a hotel in Abuja following an alleged N200,000 disagreement.

According to eyewitness accounts, the confrontation began in the early hours of Tuesday inside Phyna’s hotel room in Abuja, before spilling into the lobby, attracting the attention of guests and staff.

Sources claimed the dispute stemmed from an unsettled financial issue involving N200,000, which quickly escalated into a shouting match.

The argument reportedly intensified when neither party was willing to back down, leading to pushing and chaos within the hotel premises.

Eyewitnesses further alleged that the situation worsened after others connected to the individuals involved joined the confrontation, turning the verbal exchange into a physical clash.

Security personnel and police officers were eventually called in to restore order, using teargas to disperse the crowd.

The incident comes shortly after Phyna returned to the public eye following a brief break to mourn the death of her sister, who died in an accident involving a Dangote truck.

Watch video:

https://x.com/i/status/1978198954014629890