Trial of Former Nigerian Central Bank Chief Enters Critical Phase with New Hearing Dates

A Nigerian court has scheduled ten additional hearing days to conclude the trial of former Central Bank Governor Godwin Emefiele on charges linked to the controversial naira redesign policy. Justice Maryann Anenih of the Federal Capital Territory High Court in Abuja set the dates on Wednesday after both the prosecution and defense agreed to the schedule.

The trial, which began last year, will resume on February 3 and 10, followed by hearings on April 1 and 2, May 11 through 14, and conclude with sessions on June 9 and 10. The judge emphasized that the court expects all parties to strictly follow this timeline to bring the case to a close.

During the latest court session, a key witness for the Economic and Financial Crimes Commission (EFCC) testified about the origins of the policy. Emere Chinedu, who led the inter-agency panel investigating Emefiele, stated that the administration of former President Muhammadu Buhari authorized the naira redesign but insisted the new notes be printed within Nigeria.

Chinedu alleged, however, that the currency was ultimately printed overseas during Emefiele’s tenure. He also confirmed the former bank governor made six statements to the investigation panel between October and November 2023.

Under cross-examination, the witness declined to address Emefiele’s claim that the initial redesign suggestion came from a former EFCC chairman. Chinedu maintained the anti-graft agency has no authority to propose changes to the national currency. He further acknowledged that video evidence presented by the prosecution, depicting public hardship during the policy’s rollout, was sourced online from pre-existing news reports.

Godwin Emefiele has pleaded not guilty to the charges. The case will continue on February 3, with further cross-examination of the EFCC witness.