A High Court of the Federal Capital Territory has fixed ten additional hearing days to conclude the trial in the corruption case filed by the Economic and Financial Crimes Commission (EFCC) against former Central Bank of Nigeria (CBN) Governor, Godwin Ifeanyi Emefiele, over the naira redesign policy.
Justice Maryann Anenih set the dates on Wednesday following an agreement between counsel to the EFCC, Rotimi Oyedepo, SAN, and counsel to Emefiele, Olalekan Ojo, SAN.
The scheduled hearing dates are February 3 and 10; April 1 and 2; May 11, 12, 13 and 14; as well as June 9 and 10, within which the trial—commenced in 2024—is expected to be concluded.
Justice Anenih directed both parties to strictly adhere to the dates, assuring counsel that the court would make necessary accommodations to ensure a smooth and timely conclusion of the proceedings.
During Wednesday’s hearing, an EFCC witness, Mr Emere Chinedu, an operator of the anti-graft agency, admitted that the Presidency under former President Muhammadu Buhari had granted approval for the naira redesign.
However, he noted that the approval was subject to a condition that the printing of the redesigned naira notes be carried out locally, contrary to the decision to print the currency outside Nigeria under Emefiele’s tenure.
Chinedu, who led the inter-agency investigative panel probing the former CBN governor, also testified that Emefiele made six separate extrajudicial statements during the investigation in his defence, dated October 26, 27, 30, and 31, as well as November 1 and 2, 2023.
“In the course of our investigation, we wrote to the State House to obtain records of approval for the naira redesign. The State House responded in writing, confirming approval but with the proviso that the printing must be done locally,” the witness stated.
Under cross-examination by Emefiele’s counsel, Olalekan Ojo, SAN, the EFCC witness declined to comment on Emefiele’s claim that Abdulrasheed Bawa, former EFCC Executive Chairman, was the first to suggest the naira redesign to President Buhari.
He added that the EFCC lacks the authority to propose a change in the colour of the naira, noting that any such involvement would only be advisory.
On video clips tendered by the EFCC showing Nigerians complaining of hardship during the naira redesign, the witness admitted that the materials predated the establishment of the probe panel. He explained that the videos were downloaded from the internet and presented to illustrate the impact of the policy on Nigerians.
Chinedu further stated that he did not know the television personnel who produced the clips and did not interview any staff of the stations involved.
Emefiele is standing trial on charges marked FTC/HC/CR/264/2024 and has pleaded not guilty.
The court adjourned further cross-examination of the witness to February 3.