EFCC: Former CBN Governor Emefiele To Face Arraignment Tomorrow Over Naira Swap Scheme

EFCC Former CBN Governor Emefiele To Face Arraignment Tomorrow Over Naira Swap Scheme
EFCC Former CBN Governor Emefiele To Face Arraignment Tomorrow Over Naira Swap Scheme

Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), is facing charges from the Economic and Financial Crimes Commission (EFCC) related to the naira swap scheme and other financial improprieties.

Scheduled for arraignment on Wednesday, the EFCC will bring Emefiele to court over allegations of unlawfully ordering the printing of N684.5 million costing N18.96 billion.

After initial delays, the EFCC is pressing four counts against Emefiele for allegedly acting against the public interest during the implementation of the naira swap strategy under the previous administration.

He’s also accused of unauthorized withdrawal of N124.8 billion from the Federation’s funds.

Justice Maryann Anenih of the FCT High Court, Abuja, is expected to oversee the arraignment.

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This will mark the third set of charges against Emefiele, who has already faced court proceedings for procurement fraud and a combined $4.5bn and N2.8bn fraud, pleading not guilty on both occasions.

The charges were filed by EFCC prosecutor Rotimi Oyedepo (SAN) and a team of lawyers representing the Attorney General of the Federation, with allegations stemming from specific violations of the CBN Act and the Nigerian Constitution.

The EFCC’s legal action suggests a high-profile attempt at upholding financial regulations and accountability within Nigeria’s apex banking institution.

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