Former Central Bank Governor, Godwin Emefiele, has entered a plea of not guilty to charges brought against him by the Economic and Financial Crimes Commission (EFCC). The allegations revolve around his purported approval of printing N684.5 million worth of currency notes, valued at N18.96 billion.
During his arraignment before Justice Maryann Anenih of the FCT High Court in Abuja, Emefiele refuted the accusations leveled against him. The charges also include claims that he violated legal directives during the implementation of the naira swap policy under the administration of former President Muhammadu Buhari.
The EFCC has further alleged that Emefiele unlawfully authorized the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund. These accusations come amidst heightened scrutiny over financial practices and governance in Nigeria.
Emefiele’s plea sets the stage for a legal battle that could have significant implications for both his personal reputation and the broader financial landscape of the country.
