The embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele, has pleaded not guilty to the allegations of approving the printing of N684.5 million at the rate of N18.96 billion.
Emefiele made this plea during his arraignment on Wednesday by the Economic and Financial Crimes Commission (EFCC) on a four-count charge before Justice Maryann Anenih of the FCT High Court in Abuja.
The charges against Emefiele stem from his tenure as Governor of the Central Bank and involve accusations related to the controversial naira swap policy implemented during the administration of former President Muhammadu Buhari.
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The EFCC alleges that Emefiele disobeyed legal directives with intent to harm the public.
Specifically, the EFCC has charged Emefiele with the unlawful approval of printing N684.5 million notes using a budget of N18.96 billion, which they claim constitutes a breach of trust and a misuse of public funds. Additionally, Emefiele faces accusations of unlawfully authorizing the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund.
During the court proceedings, Justice Maryann Anenih adjourned the case, emphasizing the need for a thorough examination of the evidence presented by the EFCC.
Emefiele’s legal team, led by prominent defense attorney Michael Zikora, argued that their client followed all necessary procedures and acted within the scope of his authority as the Central Bank Governor.
The case has drawn significant attention due to its implications for financial governance and anti-corruption efforts in Nigeria. Analysts suggest that the outcome could set a precedent for how financial mismanagement allegations are handled in the country.
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As the trial progresses, the nation watches closely, awaiting further details and the potential impact on Nigeria’s financial and political landscape.
Details later…
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