From: Abuja
A principal witness, Edward Adamu, testified against Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), accusing him of redesigning the N200, N500, and N1000 notes without presidential or CBN Board approval.
At the Federal Capital Territory High Court in Abuja, Adamu stated that Emefiele disregarded established procedures in redesigning the currency. Adamu, a former deputy governor of the CBN, was led in examination by Rotimi Oyedepo, SAN, counsel to the Economic and Financial Crimes Commission (EFCC).
Adamu, the fourth witness in the trial, shared his experience with previous currency redesigns aimed at addressing issues like inflation, counterfeiting, and currency management.
Series News Online correspondent reports that the EFCC instituted a four-count charge against Emefiele, sparking controversy over the naira redesign policy.
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Judiciary