Ex-CBN Director Claims Emefiele Ignored Buhari’s Approved Design, Printed ‘his Own Naira’

The former Director of Currency Operations at the Central Bank of Nigeria, CBN, Ahmed Umar, revealed that the bank’s immediate past governor, Godwin Emefiele, printed his own design of the naira.

The ex-CBN director revealed this during his testimony at the Federal Capital Territory, FCT, High Court in Maitama.

He mentioned that the design features approved by former President Muhammadu Buhari differed from the ones Emefiele instructed to be printed.

You will recall that the Economic and Financial Crimes Commission, EFCC, had on May 15, arraigned Emefiele on a four count charge before Justice Maryanne Anenih of the FCT High Court.

Emefiele, however, denied the charge and was granted bail in the amount of ₦300 million.

Recall also that President Bola Tinubu appointed Jim Obazee last July to investigate the activities of the CBN and other related entities under the leadership of Emefiele.

According to the report submitted to the president in December 2023, the investigation accused the former CBN governor of several wrongdoings, including keeping £543.5 million in fixed deposits in the UK without seeking the consent of the bank’s board of directors and investment committee and a “fraudulent cash withdrawal of $6.23 million.”