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“Ex-Governor Emefiele printed is own Naira design” — Ahmed Umar



Ex-CBN Director Ahmed Umar accuses Emefiele of printing unauthorized Naira design

A former Central Bank of Nigeria (CBN) Director of Currency Operations, Ahmed Umar, has disclosed that the immediate past governor, Godwin Emefiele, printed his own design of the naira.

Umar made this revelation while testifying at the Federal Capital Territory (FCT) High Court sitting in Maitama.

The former CBN director stated that the features in the design approved by former President Muhammadu Buhari were different from the one Emefiele ordered to be printed.

“The design approved by the President had a QR code, which the currency in circulation does not.

The positioning of the portrait was on the right side, that printed by the CBN was on the left and the number scheme approved by the President is different from what the CBN produced,” Umar said.

The Economic and Financial Crimes Commission (EFCC) had arraigned Emefiele on May 15, on a four-count charge before Justice Maryanne Anenih of the FCT High Court.

Emefiele, however, denied the charges and was granted bail in the sum of N300 million.

The Features of the New Naira Note

The new naira notes introduced by the Central Bank of Nigeria under former President Muhammadu Buhari’s administration had several distinctive features, as disclosed by former CBN Director of Currency Operations, Ahmed Umar. Here are the key features:

  1. QR Code: The design approved by the President included a QR code, which was intended to be a security feature.
  2. Portrait Positioning: The approved design had the portrait positioned on the right side of the note, whereas the one printed by the CBN had it on the left.
  3. Number Scheme: The number scheme on the approved design differed from the one that was eventually printed by the CBN.

These features were meant to enhance the security and authenticity of the naira notes, preventing counterfeiting and ensuring ease of verification.

Lawrence is a dynamic digital journalist known for his expertise in creating SEO-focused content that drives business success. Alongside his journalism career, he also serves as an AI tutor, leveraging his knowledge to educate and empower others in the field. Lawrence graduated from Moshood Abiola Polytechnic with an HND in Mass Communication and has had his work referenced in Wikipedia and various online media outlets.