A prosecution witness, Chinedu Emere, has told an Abuja High Court that the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, complied with the directive of former President Muhammadu Buhari that the redesigned Naira notes be produced locally.
Emefiele is standing trial before Justice Mary Anenih on charges brought by the Economic and Financial Crimes Commission (EFCC), which accused him of carrying out an illegal act injurious to the public — an offence contrary to Section 123 of the Penal Code Act, Cap 89 Laws of the Federation, 1990. He has pleaded not guilty to the charge.
While being cross-examined by Emefiele’s counsel, Olalekan Ojo (SAN), Emere — the seventh prosecution witness and an EFCC investigator — confirmed that the former CBN governor acted in line with Buhari’s written instruction that the redesigned notes be produced by the Nigerian Security Printing and Minting Company (NSPMC).
“In his memorandum dated October 6, 2022, to the former president, the defendant sought approval to redesign, produce and reissue the N1,000, N500, N200, and N100 notes,” Emere testified.
“President Buhari approved the redesign in his minute on the memo, directing that the production be done locally. His note read: ‘Approved. But to be produced locally.’”
The witness said the CBN subsequently raised bills of settlement to NSPMC for the production of the notes, confirming that the redesigned Naira was indeed printed locally in compliance with the presidential order.
“The Nigerian Security Printing and Minting Company produced the redesigned notes,” he told the court. “This was in compliance with the presidential directive for local production.”
However, Emere added that while the printing was handled locally, the design work was executed by De La Rue, a foreign company based in the United Kingdom.
According to him, CBN made payment to De La Rue in British pounds for the redesign and paid NSPMC in Naira for the local production.
He also confirmed that De La Rue was the original designer of the Naira notes and provided the features used in the redesigned versions.
Emere said the EFCC’s investigation revealed that former President Buhari personally launched the redesigned notes but did not raise any complaint about them.
When defence counsel sought to tender the EFCC’s investigation report as evidence, prosecution counsel Rotimi Oyedepo (SAN) objected, claiming the report was not in the prosecution’s custody.
Justice Mary Anenih, however, directed the prosecution to make the document available to the defence to aid its case and adjourned the matter until February 10 for further hearing.
