Emefiele Did Not Seek Buhari, CBN Board Approval for Naira Redesign – Witness
In the ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, a key prosecution witness, Edward Adamu, has revealed that Emefiele bypassed both former President Muhammadu Buhari and the CBN Board when implementing the controversial 2023 naira redesign.
Testifying before Justice Maryanne Anenih at the Federal Capital Territory (FCT) High Court in Abuja, Adamu, who is the fourth prosecution witness, stated that the proper protocol for such a redesign was ignored.
However, according to Adamu, Emefiele sidestepped this procedure by convening a Committee of Governors (COG) meeting, claiming to have received direct presidential approval.
“In October 2022, the governor informed us that he had gotten express approval to redesign the currency,” Adamu told the court, adding that a formal announcement was made shortly afterward.
Despite this, Adamu stated that the current naira designs significantly differed from what was originally approved.
“Emefiele unilaterally made changes to the redesign of the N200, N500, and N1000 notes,” he disclosed.
The case continues as Emefiele faces charges related to abuse of office and unlawful implementation of the naira redesign.
Also Read: The Crimes of Godwin Emefiele: From Illegal Bank Acquisition to Billions Stashed Abroad
