Naira Redesign Case: Court Fixes June Deadline to Wrap up Emefiele’s Trial

A High Court of the Federal Capital Territory in Abuja has scheduled ten additional hearing dates to wrap up the trial of former Central Bank of Nigeria Governor, Godwin Emefiele, over charges linked to the naira redesign brought by the Economic and Financial Crimes Commission.

The trial judge, Justice Maryann Anenih, fixed the dates on Wednesday after both the prosecution and defence reached an agreement. The EFCC is represented by Rotimi Oyedepo (SAN), while Emefiele’s counsel is Olalekan Ojo (SAN).

The hearings are slated for February 3 and 10; April 1 and 2; May 11, 12, 13, and 14; as well as June 9 and 10. The court indicated that the trial, which began in 2024, is expected to be concluded within this period.

Justice Anenih urged both parties to strictly comply with the timetable, assuring them that the court would make necessary arrangements to ensure the proceedings run smoothly.

At the resumed session on Wednesday, an EFCC witness, Emere Chinedu, testified that the naira redesign was approved by the Presidency during the administration of late former President Muhammadu Buhari. Chinedu, an EFCC operative who led the inter-agency probe panel investigating Emefiele, said the approval was formally communicated to the commission after its enquiry.

He explained that the approval came with a condition that the redesigned naira notes must be printed locally, countering claims that the notes were produced outside the country under Emefiele’s leadership. “The State House approved the naira redesign, but with the proviso that it should be done locally,” he told the court.

The witness further revealed that Emefiele made six extra-judicial statements before the probe panel on October 26, 27, 30, and 31, as well as November 1 and 2, 2023.

During cross-examination, Chinedu declined to comment on Emefiele’s claim that a former EFCC chairman, Abdulrasheed Bawa, initially proposed the naira redesign to President Buhari. He maintained that the EFCC does not have the authority to recommend changes to the naira’s design, noting that any involvement by the commission would only be advisory.

Chinedu also confirmed that video clips depicting hardship experienced by Nigerians during the naira redesign, which were presented by the EFCC, existed before the probe panel was set up. He said the videos were sourced online and submitted to illustrate the alleged impact of the policy, adding that staff of the television stations that produced the clips were not interviewed.

Emefiele is facing trial under charge number FCT/HC/CR/264/2024 and has pleaded not guilty to the allegations.