A new development has emerged in the ongoing trial of former Central Bank of Nigeria (CBN), Governor Godwin Emefiele, as a prosecution witness alleged that Emefiele bypassed the required approvals for the 2023 naira redesign.
Edward Adamu, fourth Prosecution Witness (PW4), who testified before Justice Maryanne Anenih of the Federal Capital Territory (FCT) High Court in Abuja said Emefiele lacked approval from former President Muhammadu Buhari and the CBN Board.
Adamu revealed that Emefiele sidestepped established procedures, presenting a purported presidential approval at a Committee of Governors meeting without seeking CBN Board endorsement.
The witness also stated that the redesigned notes differed significantly from the originally approved designs, with Emefiele unilaterally making changes.
The trial has been adjourned until October 17, 2024.
