Naira Redesign Controversy: Court Sets June Deadline to End Emefiele’s Trial

A High Court of the Federal Capital Territory, Abuja, has fixed ten fresh hearing dates to conclude the trial of former Central Bank of Nigeria Governor Godwin Emefiele, who is facing charges related to the naira redesign, filed by the Economic and Financial Crimes Commission.

The trial judge, Justice Maryann Anenih, set the dates on Wednesday following an agreement between counsel to the EFCC, Rotimi Oyedepo (SAN), and Emefiele’s lawyer, Olalekan Ojo (SAN).

The hearing dates are: February 3 and 10; April 1 and 2; May 11, 12, 13, and 14; and June 9 and 10, during which the court said the trial, which commenced in 2024, would be concluded.

Justice Anenih urged counsel on both sides to adhere strictly to the schedule, assuring them that the court would make adequate arrangements to accommodate the trial.

At Wednesday’s resumed hearing, EFCC witness, Emere Chinedu, an operative of the commission, testified that the Presidency under the late former President Muhammadu Buhari approved the redesign of the naira notes.

Chinedu, who headed the inter-agency probe panel investigating Emefiele, stated that the approval was communicated to the EFCC in writing following the commission’s enquiry.

He added, however, that the approval came with a proviso: the printing of the redesigned naira notes should be done locally, contrary to allegations that the notes were printed abroad under Emefiele’s watch.

“The state House gave approval for the naira redesign, but with a proviso that it must be done locally,” Chinedu told the court.

The witness also disclosed that Emefiele made six extra-judicial statements while appearing before the probe panel on October 26, 27, 30, 31, and November 1 and 2, 2023.

During cross-examination, Chinedu declined to comment on claims by Emefiele that a former EFCC Chairman, Abdulrasheed Bawa, initially suggested the naira redesign to President Buhari. He noted that the EFCC has no authority to propose changes to the colour of the naira, adding that any role played by the commission in that regard could only be advisory.

Chinedu also confirmed that video clips showing hardship suffered by Nigerians during the naira redesign, which were tendered by the EFCC, existed prior to the establishment of the probe panel. He said the videos were downloaded from the internet and submitted to demonstrate the alleged difficulties Nigerians faced, adding that no staff of the television stations that produced the clips were interviewed.

Emefiele is standing trial under charge FCT/HC/CR/264/2024 and has pleaded not guilty to the allegations.

Justice Anenih adjourned the matter to February 3 for the continuation of cross-examination of the EFCC witness.

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