The Economic and Financial Crimes Commission (EFCC) has filed a new charge against Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), at the High Court of the Federal Capital Territory.

According to the charge sheet, the EFCC alleges that Emefiele authorized the printing of N684.59 million at a cost of N18.96 billion without proper authorization. This action is alleged to have violated Section 19 of the CBN Act, 2007.

The anti-graft agency further accuses Emefiele of unlawfully withdrawing N124.8 billion from the Consolidated Revenue Fund of the Federation.

The EFCC claims that Emefiele’s actions were intentional and aimed at harming the public during the implementation of the naira swap policy introduced by the Buhari administration.

This latest charge comes after Emefiele was previously arraigned on six counts of procurement and office abuse in November 2023. He was also charged with fraud involving $4.5 billion and N2.8 billion in April 2024.

Following his suspension by President Tinubu in June 2023, the government has been investigating the management of the CBN under Emefiele’s tenure. CONTINUE READING