Politics
Emefiele’s Trial Begins Amid Claims Of Printing N684m Notes With N18.96bn, Maintains Innocence
Emefiele’s Trial Begins Amid Claims Of Printing N684m Notes With N18.96bn, Maintains Innocence....KINDLY READ THE FULL STORY HERE▶
The Economic and Financial Crimes Commission (EFCC) brought former Central Bank of Nigeria (CBN) Governor Godwin Emefiele before the FCT High Court Abuja on Wednesday, May 15, over allegations of authorizing the printing of N684.5 million valued at N18.96 billion………..CONTINUE READING
Facing four counts, Emefiele pleaded not guilty to the charges. The EFCC asserted that during his tenure, Emefiele violated the law by implementing the naira swap policy without proper authorization, allegedly causing harm to the public interest. Additionally, he was accused of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
The charges outlined Emefiele’s alleged disobedience of Section 19 of the CBN Act, 2007, by approving the printing of various denominations of currency without the requisite approvals, thereby purportedly injuring public interest. The prosecution specified instances where Emefiele allegedly approved the printing of N1,000, N500, and N200 notes without proper authorization.
Moreover, Emefiele was charged with disobeying Section 80 of the Constitution by approving the withdrawal of funds from the Consolidated Revenue Fund of the Federation without due process.
The arraignment signifies the commencement of legal proceedings against Emefiele, marking a significant development in the case.
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Source: Bushradiogist
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