NEWS

EFCC To Arraign Emefiele On Wednesday For Using N18bn To Print N685m Notes

These charges will be heard before Justice Maryann Anenih of the FCT High Court in Abuja.

By Nydra Ayibapreye

The Economic and Financial Crimes Commission (EFCC) is set to prosecute former Central Bank of Nigeria (CBN) Governor Godwin Emefiele on Wednesday for alleged involvement in naira swap fraud.

Emefiele is accused of authorising the printing of N684.5 million at a rate of N18.96 billion. Originally scheduled for April 30, 2024, the arraignment was postponed by mutual agreement between the court and the involved parties.

Emefiele faces four charges of violating the law to the detriment of the public while implementing the naira swap scheme under former President Muhammadu Buhari’s administration. Additionally, he is accused of unlawfully approving the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

These charges will be heard before Justice Maryann Anenih of the FCT High Court in Abuja.

This comes after Emefiele was previously charged on November 17, 2023, with six counts of procurement fraud, to which he pleaded not guilty. He is also accused of abusing his authority by approving a contract for the purchase of 43 automobiles worth N1.2 billion between 2018 and 2020.

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