Naira Redesign Scandal: Emefiele Printed ‘His Own Naira’, Ignored Approved Design By FGN – Ex-CBN Director
In a shocking revelation that has stirred the nation, a former Director of Currency Operations at the Central Bank of Nigeria (CBN), Ahmed Umar, has testified that the immediate past governor, Godwin Emefiele, took the unprecedented step of printing a naira design that was not approved by the then President Muhammadu Buhari.
The allegations surfaced during a session at the Federal Capital Territory High Court in Maitama, where Umar detailed discrepancies between the president-approved design and the notes that entered circulation. According to Umar, the approved design featured a QR code absent from the current notes, a right-sided portrait placement instead of the left, and a different numbering scheme than what was produced by the CBN.
This controversy comes on the heels of Emefiele’s arraignment by the Economic and Financial Crimes Commission (EFCC) on May 15, facing a four-count charge before Justice Maryanne Anenih. Despite the gravity of the accusations, Emefiele has denied all charges and was subsequently granted bail for N300 million.
The case has sent ripples through the financial sector, raising questions about the integrity of the currency printing process and the oversight mechanisms within Nigeria’s apex bank. As the trial continues, the nation awaits further developments in this unprecedented case of alleged financial autonomy and disregard for presidential approval.
