Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), who is currently detained in Kuje prison, may be confronted with new criminal charges related to the CBN naira redesign policy.
Reports suggest that Jim Obazee, the special investigator for the Central Bank of Nigeria and related entities, has found that the recent redesign of the naira was not directly authorized by the former president, Muhammadu Buhari.
According to Obazee’s findings, the approval for the redesign came from Buhari’s aide, Sabiu Tunde Yusuf. This information was included in Obazee’s final report, titled ‘Report of the Special Investigation on CBN and Related Entities,’ which was submitted to Bola Tinubu on Wednesday.
The report disclosed that it was Emefiele, in partnership with Sabiu, who carried out the naira redesign. Sabiu is the nephew of the former president.
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Emefiele, who has been unable to meet the N300 million bail set by the High Court of the Federal Capital Territory on November 22, 2023, could face prosecution for the illegal issuance of currency under Section 19 of the CBN Act. This could also implicate Tunde Sabiu and 12 senior directors of the CBN.