Buhari approved local production of redesigned naira notes – Witness says at Emefiele trial

A witnesser of the Economic and Financial Crimes Commission, EFCC, successful the ongoing proceedings of erstwhile Central Bank Governor, Godwin Emefiele, has told the High Court of the Federal Capital Territory (FCT) that the redesigned naira notes were produced locally connected the directive of erstwhile President Muhammadu Buhari.

The grounds formed portion of proceedings successful a lawsuit brought by the EFCC against Emefiele.

Emefiele is facing a four-count complaint bordering connected alleged disobedience to lawful directives and actions said to person caused nationalist injury.

The charges subordinate to the naira redesign argumentation implemented betwixt October 2022 and March 2023.

According to the EFCC, the erstwhile CBN politician approved the printing of implicit 375 cardinal units of redesigned N1,000 notes valued astatine much than N11 cardinal without the proposal of the CBN Board and afloat compliance with statutory provisions.

However, testifying nether cross-examination, the prosecution witness, Mr. Chinedu Eneanya, confirmed that the redesigned notes were produced locally by the Nigerian Security Printing and Minting Company (NSPMC).

He stated that grounds earlier the court, including an extra-judicial connection by NSPMC Managing Director, Ahmed Halilu, indicated that the Presidency approved the plan and directed section production.

“The President appr...