Court fixes ten days for hearing, conclusion of naira redesign trial 

A High Court of the Federal Capital Territory, Abuja, has fixed 10 days to hear and conclude the corruption charges filed by the Economic and Financial Crimes Commission (EFCC) against Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), over the naira redesign.

Justice Maryann Anenih set the dates on Wednesday following an agreement by counsel to the EFCC, Rotimi Oyedepo, SAN, and counsel to Emefiele, Olalekan Ojo, SAN.

The trial dates are February 3 and 10; April 1 and 2; May 11, 12, 13, and 14; and June 9 and 10. The case, which began in 2024, is expected to conclude on these dates.

Justice Anenih urged both parties to adhere to the schedule and assured them that the court would make arrangements to accommodate the trial.

At Wednesday’s proceedings, EFCC witness, Emere Chinedu said the Presidency under former President Muhammadu Buhari approved the naira redesign.

Chinedu, who headed the Inter-Agency Probe Panel that investigated Emefiele, said the approval was in writing, with a condition that the printing of the new notes should be done locally. He added that the printing was carried out outside Nigeria.

Chinedu also said Emefiele made six extra-judicial statements during the investigation on October 26, 27, 30, 31, and November 1 and 2, 2023.

“In our investigation, we contacted the State House to confirm approval for the naira redesign. The response confirmed approval, but the printing had to be done locally,” Chinedu told the court.

During cross-examination, the witness declined to comment on Emefiele’s claim that former EFCC Chairman Abdulrasheed Bawa first suggested the redesign to President Buhari.

He said the EFCC had no power to propose changes to the naira and could only act in an advisory role.

On video clips tendered by the EFCC showing hardships Nigerians faced during the redesign, Chinedu said the materials predated the probe panel.

He added that the videos were downloaded from the internet and that he did not know the staff of the television stations that produced them.

Emefiele is standing trial on charges marked FTC/HC/CR/264/2024 and has pleaded not guilty.

Justice Anenih adjourned further cross-examination of the witness to February 3.