Justice Maryanne Anenih of the Federal Capital Territory High Court has fixed 10 additional hearing days to conclude the trial of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over corruption charges relating to the naira redesign policy.
The trial, instituted by the Economic and Financial Crimes Commission (EFCC), is expected to be concluded within the newly scheduled dates following an agreement between counsel to the prosecution, Rotimi Oyedepo (SAN), and counsel to the defendant, Olalekan Ojo (SAN).
The court-fixed hearing dates are February 3 and 10; April 1 and 2; May 11, 12, 13, and 14; as well as June 9 and 10. The trial, which commenced in 2024, is expected to be completed within this period.
Justice Anenih urged counsel on both sides to strictly adhere to the scheduled dates, assuring them that the court would make necessary accommodations to ensure the smooth conclusion of the trial.
At the resumed hearing, an EFCC witness, Emere Chinedu, an operative of the Commission, disclosed that the Presidency under former President Muhammadu Buhari granted approval for the redesign of the naira notes.
According to the witness, the approval was, however, conditional, as the Presidency directed that the printing of the redesigned naira notes should be carried out locally, contrary to the offshore printing allegedly undertaken during Emefiele’s tenure.
Chinedu, who chaired the Inter-Agency Probe Panel that investigated the former CBN governor, testified that Emefiele made six separate extra-judicial statements during the investigation in his defence. The statements, he said, were made on October 26, 27, 30, and 31, as well as November 1 and 2, 2023.
“In the course of our investigation, we extended enquiries to the State House for records of approval for the naira redesign. The response from the State House was communicated to the EFCC in writing,” the witness said.
“The State House approved the naira redesign, but with the proviso that it must be done locally.”
During cross-examination by defence counsel, Olalekan Ojo (SAN), the witness declined to comment on claims by Emefiele that a former EFCC Chairman, Abdulrasheed Bawa, was the first to suggest the naira redesign to former President Muhammadu Buhari.
He maintained that the EFCC has no authority to propose changes to the design or colour of the naira, adding that any such action could only be advisory in nature.
On a series of video clips from television stations tendered by the EFCC to demonstrate public hardship during the naira redesign, the witness admitted that the videos predated the establishment of the probe panel.
He further stated that the videos were downloaded from the internet and tendered as evidence to illustrate the difficulties suffered by Nigerians during the policy implementation.
Chinedu said he neither knew the staff of the television stations who produced the videos nor interviewed any personnel from the stations.
Justice Anenih subsequently adjourned the matter to February 3 for continuation of cross-examination of the EFCC witness.
