EMEFIELE VIOLATED CBN ACT IN NAIRA REDESIGN EXERCISE-WITNESS. (PHOTO). #PRESS RELEASE
Emefiele Violated CBN Act in Naira Redesign Exercise-Witness The Seventh Prosecution Witness, PW7, Chinedu Eneanya, in the trial of the former governor of the Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele on Wednesday, April 1, 2026, told Justice Maryanne Anineh of the Federal Capital Territory High Court, Maitama, Abuja, that Emefiele violated the provisions of the CBN Act in the 2022 naira redesign exercise. Emefiele is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a four-count charge, bordering on the alleged unlawful printing of new naira notes. Testifying under cross-examination by defence counsel, Olalekan Ojo, SAN, at Wednesday’s proceedings, the witness disclosed that “the investigation conducted by the team showed that the defendant disobeyed the provisions of the CBN Act, 2007. The Central Bank must have board recommendations before the currency is redesigned.” Further in his testimony, the witness disclosed that Emefiele presen...
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