RismadarVoice Reporters, April 1, 2026
A prosecution witness in the trial of former Central Bank of Nigeria (CBN) Governor, Godwin Ifeanyi Emefiele, on Wednesday told a Federal Capital Territory High Court in Maitama, Abuja, that the 2022 naira redesign exercise violated provisions of the CBN Act.
The witness, Chinedu Eneanya, who appeared as the seventh prosecution witness (PW7), made the disclosure while testifying before Justice Maryanne Anineh.
Emefiele is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a four-count charge bordering on the alleged unlawful printing of new naira notes.
Under cross-examination by defence counsel, Olalekan Ojo, SAN, Eneanya stated that investigations revealed that the redesign process did not follow due procedure as stipulated by the CBN Act, 2007.
“The Central Bank must have board recommendations before the currency is redesigned,” he said, adding that the defendant allegedly failed to comply with this requirement.
The witness further told the court that Emefiele presented three sample designs for the N1000, N500, and N200 notes, which were approved by former President Muhammadu Buhari.
“The president approved on the 11th page and directed that the design be done locally. However, investigation showed that what was eventually produced was not what was presented to the president,” he stated.
Eneanya also revealed that the original designs of Nigeria’s currency were handled by UK-based firm De La Rue, while confirming that the Nigeria Security Printing and Minting Company Limited carried out the production of the redesigned notes and was duly paid by the CBN.
When asked about the involvement of the CBN Board, the witness said the EFCC obtained statements from relevant officials, including the officer in charge of the apex bank’s Corporate Secretariat.
During re-examination, prosecution counsel Abbas Mohammed sought clarification on the President’s directive, with the witness explaining that the redesigned currency was presented to and approved by the President.
Justice Anineh subsequently adjourned the case to May 11, 2026, for continuation of trial.
