A prosecution witness in the ongoing trial of Godwin Emefiele, the immediate past Governor of the Central Bank of Nigeria (CBN), told a Federal Capital Territory High Court in Abuja that Emefiele complied with a directive by the late President Muhammadu Buhari requiring the redesigned naira notes to be produced locally, court proceedings show.
The witness, Chinedu Emere, who is an investigator with the Economic and Financial Crimes Commission (EFCC), testified that in a memorandum dated October 6, 2022, Emefiele had sought approval from Buhari to redesign, produce and reissue the redesigned N1,000, N500, N200 and N100 notes.
Emere said Buhari approved the redesign in his minute on the memorandum and directed that the notes be produced within Nigeria.
According to the witness, the Nigerian Security Printing and Minting Company (NSPMC) carried out the production of the redesigned notes in compliance with the presidential directive.
Emere said the CBN prepared bills of settlement to the NSPMC for the printing of the redesigned currency notes.
Emere confirmed that while the production of the redesigned notes was local, the redesign work was done by a foreign firm, De La Rue.
He said CBN paid De La Rue in British Pound Sterling for the redesign, and the NSPMC was paid in naira for production locally.
Emefiele is facing a four-count charge filed by the EFCC, including allegations of disobedience to lawful authority and illegal acts causing injury to the public linked to the redesign and printing of naira notes. He pleaded not guilty to the charges.
During cross-examination by Emefiele’s counsel, Olalekan Ojo SAN, the witness reiterated that the directive from Buhari’s minute was that the redesigned naira notes should be produced locally and confirmed the NSPMC’s role in their production.
The trial judge, Justice Maryanne Anenih, ordered the prosecution to make available to the defence an investigative report compiled by the EFCC to facilitate the defence’s case. The matter was then adjourned for further hearing.
The witness said the Nigerian Security Printing and Minting Company carried out the printing, and that a foreign firm carried out the redesign work. Emefiele continues to face charges relating to the matter in court.
