A former Central Bank of Nigeria governor, Godwin Emefiele, appeared before an Abuja high court on Thursday. During the hearing, prosecution witness Chinelo Eneanya, an investigator with the Economic and Financial Crimes Commission (EFCC), testified that the redesign of the naira notes had caused widespread economic hardship for Nigerians. She explained that the EFCC’s investigation showed the policy directly affected the public, creating frustration, difficulty in meeting daily needs, and challenges for businesses.
The EFCC examined documentary, electronic, and audio‑visual evidence of the redesign’s impact and presented several items to the court, including a certified copy of a bundle of documents, a bill of settlement, and six video recordings from news outlets that illustrated the policy’s effects. Eneanya further testified that board members and committee governors of the Central Bank were not informed about presidential approval before the redesign was implemented, and that the introduction of the new notes led to significant hardship for the populace.
During the proceedings, the defendant’s counsel, Olulekun Ojo, objected to the witness’s reference to the Supreme Court’s judgment on the naira redesign. The prosecution countered that Eneanya was merely recounting the EFCC investigation’s findings and not altering the Supreme Court’s conclusions. The court overruled the objection, allowing the witness to continue her testimony.
Emefiele was also interviewed by the EFCC, and his extrajudicial statements were entered into evidence. In his statement, he was asked whether the Board or governors had approved the redesign, and he wrote that they had not. The case was adjourned until 26 November for cross‑examination of the prosecution witness.
The trial underscores the ongoing controversy surrounding the naira redesign policy, which has had significant economic and social implications for Nigerians. The proceedings are being closely watched, and the outcome could have far‑reaching consequences for the country’s economic policies and governance.
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