The trial involving the former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, resumed before the High Court of the Federal Capital Territory, FCT, on Tuesday, with a significant prosecution witness acknowledging that former President Muhammadu Buhari authorized the redesign of the Naira currency.
Mr. Ahmed Bello Umar, a former Director of Currency Operations at the apex bank, testified before Justice Maryann Anenih and provided evidence in support of the prosecution’s case.
Led by the Economic and Financial Crimes Commission’s counsel, Mr. Rotimi Oyedepo, SAN, the witness submitted a copy of the approval letter issued by ex-President Buhari on October 6, 2022, endorsing the redesign and printing of new Naira notes under Emefiele’s leadership at the CBN.
The witness highlighted that the approved designs differed slightly from the final prints by the defendant. Notably, he pointed out discrepancies in portrait placement and numbering styles, as well as the absence of a QR Code on the circulated currency notes.
During cross-examination by Emefiele’s lawyer, Mr. Mahmoud Magaji, SAN, the witness reiterated that the approval for the Naira redesign project originated from the presidency. He mentioned that President Buhari publicly launched the redesigned notes on December 29, 2023, ensuring their validity as legal tender with his signature embedded, reflecting Umar’s position as Director of Currency Operations.
The documents tendered by the witness were admitted by Justice Anenih as exhibits in the ongoing case against Emefiele, who faces multiple charges related to alleged financial improprieties during his tenure at the CBN.
The unfolding legal proceedings have garnered significant attention, with Emefiele securing bail while defending himself against accusations of unauthorized currency printing and fund withdrawals. President Bola Tinubu’s suspension of Emefiele, subsequent arrest, and extended legal battles underscore the gravity of the case, involving intricate allegations of financial misconduct and breach of regulatory protocols.
