Former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, was confronted with grave allegations on Wednesday by the Economic and Financial Crimes Commission, EFCC, a situation that demands our utmost attention.
He pleaded not guilty to the grave accusation of approving the printing of N684.5 million at the rate of N18.96 billion.
In a four-count charge filed against him by the anti-graft agency before Justice Maryann Anenih of the FCT High Court, Abuja, Emefiele was alleged to have disobeyed the direction of law, causing pain and distress to the public during the implementation of the naira swap policy of the administration of former President Muhammadu Buhari.
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The former governor of the Apex Bank is currently embroiled in a series of legal battles. He faces multiple corruption charges, which have kept him in and out of Court since he left office.
In the Charge sheet filed by the EFCC before the Court, the ex-CBN governor was accused of knowingly violating the provisions of section 19 of the Act 2007 of the Central Bank of Nigeria, CBN.
He allegedly approved the printing of N375,520 million pieces of colour-swapped N1000 notes at the cost of N11.052 billion without the recommendation of the Board of the Apex Bank and final approval of the President of the Federal Republic of Nigeria, a complex and serious charge.
After listening to the charge read to him, Emefiele denied wrongdoing and pleaded not guilty.
The embattled former CBN governor was granted bail of N300 Million. This amount, which is significantly high, reflects the seriousness of the charges against him and the potential consequences he may face if found guilty.
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