A High Court of the Federal Capital Territory (FCT), Abuja, has fixed June 2026 as the deadline to conclude the trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over charges linked to the naira redesign policy.
The trial judge, Justice Maryann Anenih, on Wednesday scheduled 10 additional hearing dates following an agreement between counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo (SAN), and Emefiele’s lawyer, Olalekan Ojo (SAN).
The dates fixed for hearing are February 3 and 10; April 1 and 2; May 11, 12, 13 and 14; as well as June 9 and 10. The court said the trial, which began in 2024, would be concluded within this period.
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Justice Anenih urged both parties to strictly comply with the timetable, assuring them that the court would make the necessary arrangements to ensure uninterrupted proceedings.
At the resumed hearing, an EFCC witness, Emere Chinedu, an operative of the commission, told the court that the Presidency under the late former President Muhammadu Buhari approved the redesign of the naira notes.
Chinedu, who headed the inter-agency probe panel that investigated Emefiele, said the approval was conveyed to the EFCC in writing after the commission made enquiries.
He added that the approval came with a condition that the printing of the redesigned naira notes should be done locally, countering allegations that the notes were printed abroad during Emefiele’s tenure.
“The State House approved the naira redesign, but with a proviso that it must be carried out locally,” the witness said.
Chinedu further disclosed 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.
Under cross-examination, the EFCC operative declined to comment on claims by Emefiele that a former EFCC Chairman, Abdulrasheed Bawa, initially proposed the naira redesign to President Buhari.
He maintained that the EFCC had no authority to suggest changes to the naira, noting that any involvement by the commission could only be advisory.
The witness also confirmed that video clips showing hardship allegedly suffered by Nigerians during the naira redesign, which were tendered by the EFCC, existed before the probe panel was constituted.
He said the videos were sourced from the internet and submitted to illustrate the alleged difficulties, adding that no staff of the television stations that produced the clips were interviewed.
Emefiele is being tried under charge number FCT/HC/CR/264/2024 and has pleaded not guilty to the allegations.
The case was adjourned to February 3 for the continuation of cross-examination of the EFCC witness.
