Crime
Emefiele’s Naira Redesign Did Not Match Presidential Approval, Says Witness
The trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele continued in the Federal Capital Territory High Court on Thursday, November 14, 2024, with explosive testimony from Kingsley Obiora, the former Deputy Governor in charge of Policy at the CBN.
Obiora, who served under Emefiele, told the court that the new naira notes issued during Emefiele’s tenure did not match the version approved by President Muhammadu Buhari.
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Appearing virtually before Justice Maryann Anenih, Obiora explained that he noticed a discrepancy between the President’s original approval and the currency that was eventually produced and circulated.
His testimony followed a presentation of evidence by prosecution counsel, Rotimi Oyedepo SAN, which highlighted the differences between the two versions.
Obiora, who worked at the CBN for over seven years, further described his role within the CBN’s Committee of Governors (COG), a key decision-making body led by Emefiele.
According to Obiora, the committee, which included the governor, deputy governors, and the director of corporate services, met weekly to discuss critical bank policies.
During his testimony, Obiora recounted the events leading up to the controversial currency redesign.
He explained that on October 25, 2022, Emefiele informed the deputy governors of the plan during an event in Lagos marking the anniversary of the e-naira.
Obiora voiced concerns about announcing such a major policy at the event but was overruled when the redesign proposal was formally presented the following day in a COG meeting.
Emefiele reportedly told the committee that the President had already approved the redesign.
The policy was subsequently discussed and approved by the COG, and a public announcement was made by Emefiele and other senior CBN officials.
However, Obiora noted that the CBN Board was only formally informed about the redesign in December 2022, months after the policy had been set in motion.
He clarified that the board’s involvement was limited to endorsing the decisions made by the COG.
Under cross-examination by defence counsel Olalekan Ojo SAN, Obiora confirmed that the December 2022 Board meeting aligned with the notes eventually released into circulation, but reiterated that the board did not play a role in initiating the redesign.
He also stated that there had been no complaints from President Buhari about the policy.
Reflecting on his past involvement with currency redesigns, Obiora noted his participation in the 2014 N100 note redesign but emphasized that he had not been directly involved in that process.
After hearing his testimony, Justice Anenih adjourned the case until December 4, 2024, with further hearings scheduled for January 21, 2025.
There are reports of a violent clash between the Nigerian Army troops and bandits led by the notorious Bello Turji in the Sabon Birni area of Sokoto State.
The ongoing confrontation has disrupted normal life in the region, with travel between key towns now deemed unsafe.
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Abdulsalam Suleiman Izuagbe, a senior consultant and public affairs analyst, disclosed on Thursday that the situation has deteriorated, making the Shinkafi to Sabon Birni route perilous for travelers.
“There is a war going on in Sabon Birni; Bello Turji is facing the Nigerian Army as I speak to you,” Izuagbe said.
“They are exchanging fire in the Sabon Birni area. From Shinkafi to Sabon Birni is no longer safe for anybody to travel. To think it’s a normal business as usual is missing the point.”
As of the time of filing this report, the Sokoto State Police Command spokesperson, ASP Sanusi Abubakar, had not responded to calls or text messages seeking comment.
The clash marks a continuation of the violence in the region, where Turji’s criminal group has been wreaking havoc.
Local authorities are expected to provide more information as the situation evolves.
The Federal Capital Territory High Court in Abuja has adjourned the arraignment of former Kogi State Governor Yahaya Bello and two co-defendants in a corruption case brought by the Economic and Financial Crimes Commission (EFCC).
The case, initially scheduled for hearing, has been rescheduled for November 27, 2024, following an EFCC request to allow the full 30-day window from the initial summons to expire.
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The EFCC’s counsel, Jamiu Agoro, informed Justice Maryann Anenih that proceeding before the expiration of the summons period, issued on October 3rd, would be premature.
“In that wise, we feel it will not be appropriate for us to take proceedings while that 30 days is still running,” Agoro said, noting that the prosecution and defense had agreed to reconvene later in the month.
He also explained that the previously scheduled date of November 20th was inconvenient for the prosecution team.
The court also approved the EFCC’s request to serve a notice of hearing at the last known address of the former governor.
This, according to Agoro, was necessary to ensure compliance with court protocols.
Counsel for Bello’s co-defendants, Umar Oricha and Abdulsalami Hudu, did not object to the EFCC’s application.
Representing Oricha, Senior Advocate of Nigeria Aliyu Saiki confirmed that his client had been granted administrative bail and agreed to the adjournment request.
ZE Abass, counsel for Hudu, also assented to the new date.
After hearing from all parties, Justice Anenih approved the EFCC’s adjournment request and issued the notice for the hearing.
“I have considered the application for adjournment by the complainant and issuance of hearing notice and the submission by the second and third defendants. The application is granted,” she ruled.
Bello, alongside Oricha and Hudu, faces a 16-count charge filed by the EFCC, marking a significant corruption case involving allegations of misappropriation of funds and abuse of office during his tenure as governor.
The court is set to formally arraign the defendants on November 27th.
Two suspects have been arrested for allegedly impersonating officials of the Economic and Financial Crimes Commission (EFCC) in a bid to extort $1 million from Mohammed Bello-Koko, the former Managing Director of the Nigerian Ports Authority (NPA).
In this regard, Ojobo Joshua and Aliyu Hashim were arraigned before Justice Jude Onwuebuzie of the Federal Capital Territory High Court in Abuja on Wednesday.
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The duo are facing a four-count charge, including impersonation and attempted fraud under the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.
According to the EFCC, Joshua and Hashim contacted Bello-Koko, falsely claiming they had influence over an ongoing investigation against him and demanded $1 million to ensure a favorable outcome.
They allegedly threatened to have him arrested and prosecuted if he refused to comply.
Court documents revealed that on September 28, 2024, the duo tried to extort $700,000 from Bello-Koko, claiming it would help block a fabricated EFCC petition against him.
The two suspects, believed to be part of a four-man syndicate posing as EFCC officials, were arrested on August 28, 2024, in Garki and the Apo Legislative Quarters in Abuja.
In court, both Joshua and Hashim pleaded not guilty to the charges.
EFCC prosecutor Elizabeth Alabi requested their remand in custody, while the defense sought bail.
Justice Onwuebuzie granted bail to Joshua under stringent conditions, including a N100 million bond and two sureties at level-16 civil service rank.
Both suspects were remanded at Kuje Correctional Centre until they meet the bail conditions.
A bail hearing for Hashim is scheduled for November 18, 2024.
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