Emefiele Printed ‘His Own Naira’, Neglected Design Approved by Buhari — Ex-CBN Director Reveals

Former Central Bank of Nigeria (CBN) Director of Currency Operations, Ahmed Umar, has disclosed that ex-CBN Governor Godwin Emefiele ordered the printing of a naira design that was not approved by former President Muhammadu Buhari.

Testifying at the Federal Capital Territory (FCT) High Court in Maitama, Umar stated that the features in the currency currently in circulation differ from those approved by Buhari. He emphasised that Emefiele printed his own design of the naira.

According to Umar, the president-approved design included a QR code and positioned the portrait on the right side, whereas the CBN’s printed version lacks the QR code and places the portrait on the left. Additionally, the numbering scheme of the printed currency differs from the approved design.

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Umar stated, “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.”

Emefiele was arraigned by the Economic and Financial Crimes Commission (EFCC) on May 15, facing a four-count charge before Justice Maryanne Anenih of the FCT High Court. He has denied the charges and was granted bail set at N300 million.

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