Emefiele denies allegations of printing N684 million notes using N18.96 billion

In a recent development, Godwin Emefiele, the former Governor of the Central Bank of Nigeria, has entered a plea of not guilty in response to the accusation of authorizing the printing of N684.5 million at a value of N18.96 billion.

During his arraignment on Wednesday at the FCT High Court in Abuja, Emefiele made this statement in response to the four-count charge brought against him by the Economic and Financial Crimes Commission, EFCC, as reported by several sources.

In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

GistReel reports that EFCC accused Emefiele of approving the printing of N684,590,000 at the rate of N18.96 billion.

The EFCC also claimed that during his implementation of the naira swap policy, Emefiele allegedly broke the law with the intention of causing harm to the public.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.