EFCC Files Fresh Charges Against Former CBN Governor Godwin Emefiele Over Alleged Financial Misconduct

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The Economic and Financial Crimes Commission (EFCC) has intensified its legal battle against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele, by lodging a new charge at the High Court of the Federal Capital Territory. The latest accusation alleges that Emefiele authorized the printing of N684,590,000 worth Naira at a staggering N18.96 billion, sparking outrage over potential financial impropriety.

In a detailed four-count charge sheet unveiled on Tuesday, the EFCC asserted that Emefiele violated the law with malicious intent while implementing the naira swap policy under the administration of former President Muhammadu Buhari. The anti-graft agency further accused Emefiele of irregularly sanctioning the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation, raising concerns about financial transparency and accountability.

 The charge reads “That you, GODWIN IFEANYI EMEFIELE, between the 19th day of October 2022 and March 5 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence”.

Notably, Emefiele had previously faced legal scrutiny, having been arraigned before the court in 2022 on six counts of procurement malpractice. The allegations included the misuse of office by approving a contract worth N1.2 billion for the acquisition of 43 vehicles between 2018 and 2020.

This recent legal development comes on the heels of Emefiele’s prior indictment alongside Henry Omoile in an alleged $4.5 billion and N2.8 billion fraud case, where they were arraigned before Justice R.A. Oshodi of the Special Offences Court in Ikeja, Lagos.

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