Naira Redesign: Court Fixes 10 Days To Conclude Trial In EFCC’s Case Against Emefiele

A High Court of the Federal Capital Territory has scheduled ten additional days to conclude the trial in the corruption case brought by the Economic and Financial Crimes Commission (EFCC) against the former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Ifeanyi Emefiele, over the naira redesign.

Justice Maryann Anenih fixed the ten days on Wednesday following a consensus between counsel to the EFCC, Mr Rotimi Oyedepo, SAN, and counsel to Emefiele, Mr Olalekan Ojo, SAN.

The scheduled dates are February 3 and 10; April 1 and 2; May 11, 12, 13, and 14; as well as June 9 and 10, during which the trial, which commenced in 2024, is expected to be concluded.

Justice Anenih charged lawyers on both sides to keep faith with the appointed dates, assuring them that the court would accommodate them appropriately during the period.

At Wednesday’s proceedings, a witness of the anti-graft agency, Mr Emere Chinedu, an operative of the EFCC, admitted that the Presidency, under President Muhammadu Buhari, in a letter to the EFCC, granted approval to Emefiele to redesign the naira notes.

He, however, said that the Presidency’s letter to the EFCC, in response to an inquiry, stated that the printing of the new notes should be done locally, as against the printing done outside Nigeria by the former CBN governor.

Chinedu, who headed the inter-agency probe panel that investigated the former CBN boss, said that Emefiele, in the course of appearing before the panel, made six separate extrajudicial statements to present his defence.

According to him, the statements were made on October 26, 27, 30, and 31, as well as November 1 and 2, 2023.

“In the course of our job, we extended our investigation to the State House for records of approval for the naira redesign. The response of the State House was communicated to the EFCC in writing.

“The State House gave approval for the naira redesign, but with a proviso that it must be done locally,” the witness said.

The EFCC witness, who was cross-examined by Emefiele’s counsel, Olalekan Ojo, SAN, declined to answer claims by Emefiele in one of his statements that Abdulrasheed Bawa, a former Executive Chairman of the EFCC, was the first person to suggest the naira redesign to President Muhammadu Buhari.

Rather, the witness said that the EFCC has no power to propose a change in the colour of the naira, adding that anything done in that regard must be advisory.

On a series of video clips from various television stations across the country, in which Nigerians complained of hardship and which were tendered by the EFCC, he admitted that the videos had existed before his probe panel was set up by the Federal Government.

According to him, the videos of news and programmes from the television stations were downloaded from the internet by his probe panel and tendered to show the injuries Nigerians suffered during the naira redesign.

He claimed not to know any staff of the television stations who prepared the contents of the videos and said he did not interview any person from any of the television stations.

Emefiele is being prosecuted by the EFCC in the charge marked FTC/HC/CR/264/2024 and has pleaded not guilty to the charges.

Meanwhile, further cross-examination of the witness by Emefiele’s counsel has been adjourned to February 3 by Justice Maryann Anenih.