Emefiele
Emefiele Faces June Deadline as Court Accelerates Naira Redesign Trial
By Otobong Gabriel, Abuja
An FCT High Court in Abuja has moved to fast-track the trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, setting June 2026 as the deadline to conclude proceedings linked to the implementation of the naira redesign policy.
Justice Maryann Anenih, who is presiding over the case, approved ten additional hearing dates after both the prosecution and defence agreed to an expedited schedule aimed at avoiding further delays.
Under the timeline announced in court, the matter will be heard on February 3 and 10; April 1 and 2; May 11, 12, 13 and 14; as well as June 9 and 10, 2026. The judge directed counsel on both sides to ensure strict adherence to the timetable.
At the resumed hearing, the prosecution called Emere Chinedu, head of an inter-agency investigative panel, who testified on decisions taken during the rollout of the naira redesign under the administration of former President Muhammadu Buhari.
Chinedu told the court that although the Federal Government approved the redesign of the national currency, the approval came with clear conditions, including a directive that the new notes should be printed locally.
He said the condition was formally communicated during the course of investigations.
The witness also disclosed that Emefiele made several extra-judicial statements while appearing before the investigative panel in late 2023, which, according to the prosecution, form part of the evidence to be relied upon in the trial.
During cross-examination, Chinedu rejected claims that the Economic and Financial Crimes Commission (EFCC) initiated the naira redesign, insisting that the commission does not have the authority to propose changes to the nation’s currency but only acts within its advisory and investigative mandate.
The prosecution further attempted to tender video evidence said to depict the hardship Nigerians experienced during the cash scarcity that followed the policy’s implementation.
Defence lawyers objected, challenging the origin and relevance of the materials.
Justice Anenih adjourned proceedings and reiterated the court’s commitment to concluding the trial within the June deadline.