Naira Swap: EFCC to arraign ex-CBN governor Emefiele for policy approval

The Economic and Financial Crimes Commission (EFCC) is preparing to arraign former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Wednesday.

This is in connection with his approval of the printing of N684.5 million under the naira swap policy. Initially scheduled for April 30, 2024, the arraignment was postponed, pending the court and parties’ agreement.

Emefiele faces a four-count charge alleging disobedience to law with intent to cause public harm during the implementation of the naira swap policy under the administration of former President Muhammadu Buhari.

Additionally, the EFCC accuses him of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

The former CBN governor is expected to appear before Justice Maryann Anenih of the FCT High Court, Abuja.

This brings the total charges against him to three, including previous allegations of procurement fraud and office abuse, dating back to November 17, 2023.