Naira redesign: EFCC to arraign Emefiele anew on May 15

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On May 15, Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN), will be charged with three felonies under an amended charge by the Economic and Financial Crimes Commission (EFCC) before a Federal Capital Territory high court.

In the new accusation brought against him, the EFCC said that Emefiele violated the law with the intention of hurting the public while carrying out the former President Muhammadu Buhari’s naira swap program.

Emefiele was also charged by the anti-graft agency with illegally authorizing the removal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

Judge Maryann Anenih was supposed to preside over the arraignment, according to the News Agency of Nigeria, NAN.

However, when the case with the number CR/264/2024 was summoned in court, none of the parties was present.

The prosecution, according to the court, sent a letter requesting a postponement as Emefiele was awaiting trial in a different Lagos court.

Thus, the judge postponed the arraignment until May 15.

Emefiele is also on trial before FCT High Court Judge Hamza Muazu for an alleged 20-count amended indictment that the Economic and Financial Crimes Commission (EFCC) filed against him.

During his tenure as the head of the apex bank, he was accused of criminal breach of trust, forgery, conspiracy to get by false pretense, and acquiring money by false pretense.

On January 8, a Federal Capital Territory (FCT) high court presided over a case in which the suspended former governor of the Central Bank of Nigeria (CBN) was awarded N100 million in damages for rights violations by the federal government and the Economic and Financial Crimes Commission (EFCC).

Adeniyi further prohibited Emefiele’s arrest by the federal government and its agents unless an order from a court of competent jurisdiction was obtained.

According to the judgment, the respondents are not need to imprison the applicant in order to conduct a lengthy inquiry that complies with legal requirements.

“No material placed before the court to show that the release of the applicant will in any way interfere with the investigation of allegations preferred against him.

In order to defend his fundamental rights to life, personal liberty, a fair trial, and freedom of movement, the beleaguered Emefiele had taken the Federal Government, Attorney-General of the Federation (AGF), Executive Chairman, Economic and Financial Crimes Commission (EFCC), and the Commission to court.

Emefiele requested a declaration from the court stating that it is illegal for him to have been detained by the first and second respondents’ agency since June 10, 2023, and to have been transferred to the third and fourth respondents’ custody on October 26, 2023, without first being charged in court.

He claimed that the respondents’ disregard for many legitimate court decisions directing his release amounted to a serious infringement of his fundamental rights to life and personal liberty, which are protected by the African Charter on Human and Peoples’ Rights and the 1999 Nigerian Constitution (as amended).


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