By kawaekwune Jeffrey
Several witnesses have continued to provide incriminating testimonies against the immediate past governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele who is facing trial before the Federal High Court in Abuja.
The latest witness who appeared before the court is a former CBN Deputy Governor, Edward Adamu.
Adamu, who was presented before the court by the Economic and Financial Crimes Commission (EFCC), shed light on the alleged lack of proper approval for the naira redesign policy of 2022.
Adamu, the fourth prosecution witness, alleged that Emefiele acted without approval from either former President Muhammadu Buhari or the CBN Board in the controversial naira redesign policy of 2022.
During the court session, Adamu detailed the standard procedure for such an exercise, which requires approval from the CBN Board and the President after the matter is presented by the Director of Currency Operations.
He stated: “The 2022 naira redesign exercise was not approved by the CBN Board or President Buhari. Instead, Emefiele presented what he described as a ‘presidential approval,’ which he unilaterally acted upon.”
Adamu explained that the naira notes in circulation deviated from what had been approved by the President and the CBN Board, further asserting that these modifications were made solely by Emefiele without proper authorization.
In defence, counsel Olalekan Ojo (SAN) challenged the witness’s consistency, referencing Adamu’s earlier statement to the Economic and Financial Crimes Commission (EFCC), which was said to differ from his current testimony. The defence also pointed out instances in which the President may have approved decisions without consulting the CBN Board. However, Adamu maintained that the proper procedure was not followed in this case.
However, the presiding judge, Justice Maryanne Anenih adjourned the case till November 18, 2024, for further hearings.
It would be recalled also that Emefiele has been facing stormy waters and is being tried for alleged abuse of office and fraud to the tune of $4.5bn and N2.8bn.
Recall that EFCC had slammed a 26-count charge against Emefiele and one of his allies, Omole.
The charge, marked ID/23787c/2024, dated April 3, 2024, was filed by Mr Rotimi Oyedepo (SAN).
EFCC alleged that Emefiele committed abuse of office between 2022 and 2023, in Lagos, of abuse of office.
Emefiele is also facing trial on counts bordering on accepting gratification, accepting gifts through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantage on his associates contrary to the Corrupt Practices Act of 2000.
