EFCC files fresh four-count charge against Emefiele

The Economic and Financial Crimes Commission (EFCC) has filed a fresh four-count charge against Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN).

The charges bordering on disobeying the law to punish Nigerians, illegal printing of money, abuse of office, and other offences were filed before Justice Hamza Muazu at the High Court of the Federal Capital Territory (FCT) by EFCC prosecutor, Rotimi Oyedepo (SAN).

Marked Suit No: CR/264/2024, the EFCC alleged that Emefiele approved the printing of N684.5 million with N18.9 billion, adding that the former apex bank chief disobeyed “direction of law with intent to cause injury to the public.”

According to the prosecutor, the offence is punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.

The agency also accused Emefiele of illegally approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

Parts of the charge read: “PARTICULARS OF THE OFFENCE: That you, GODWIN IFEANYI EMEFIELE, between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1,000, at the total cost of N11,052,068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria, which conduct of yours caused injury to the public and you thereby committed an offence.”

COUNT 2: “That you, GODWIN IFEANYI EMEFIELE, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4,471,066,040 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria, which conduct of yours caused injury to the public and you thereby committed an offence.

COUNT 3: “That you, GODWIN IFEANYI EMEFIELE, between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3,441,005,280 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria, which conduct of yours caused injury to the public and you thereby committed an offence.”

COUNT 4: “That you, GODWIN IFEANYI EMEFIELE, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honourable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124,860,227,865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”