A seventh prosecution witness, Chinedu Eneanya, informed the Federal Capital Territory High Court on Wednesday, April 1, 2026, that the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, violated the CBN Act during the 2022 naira redesign exercise.
Eneanya, testifying before Justice Maryanne Anineh in Maitama, stated that investigations revealed the defendant bypassed mandatory board recommendations required by the CBN Act of 2007 before proceeding with the currency redesign.
During cross-examination by defense counsel Olalekan Ojo, SAN, the witness disclosed that while the President had approved three sample designs for the N1000, N500, and N200 denominations, the notes eventually produced differed from those presented for executive approval.
According to the witness, the President’s directive on page 11 of the proposal explicitly required the design to be executed locally. However, the prosecution maintains that the final output did not align with the authorized samples.
Eneanya further clarified that the original design of the previous naira notes was handled by De La Rue, a UK-based firm, but confirmed that the printing of the new notes had been carried out locally by the Nigeria Security Printing and Minting Company Limited (NSPMC).
The witness identified a statement from Ahmed Aliyu, the Managing Director of NSPMC, as Exhibit N1, confirming that the CBN had paid the company for the production of the currency.
When questioned about the scope of the investigation, the witness noted that the Economic and Financial Crimes Commission (EFCC) obtained a statement from the official in charge of the Apex Bank’s Corporate Secretariat regarding the involvement of the CBN Board of Directors.
Under re-examination by prosecution counsel Abbas Mohammed, Eneanya reiterated that although the President had approved a specific redesign shown to him, the subsequent implementation deviated from that approval.
Emefiele is currently facing a four-count charge brought by the EFCC, bordering on the alleged unlawful printing of new naira notes. Following the day’s proceedings, Justice Anineh adjourned the matter until May 11, 2026, for the continuation of the trial.