Emefiele Obeyed Buhari’s Order on Local Naira Production — Witness.

A prosecution witness on Wednesday told an Abuja High Court that former Central Bank of Nigeria governor Godwin Emefiele acted on the directive of late President Muhammadu Buhari that the redesigned naira notes be produced locally.

Testifying as the seventh prosecution witness, Chinedu Emere, an investigator with the Economic and Financial Crimes Commission (EFCC), said Emefiele submitted a memorandum dated October 6, 2022, seeking approval to redesign and reissue the N100, N200, N500 and N1,000 notes.

According to the witness, Buhari approved the proposal with a clear condition that the notes be produced within Nigeria. Emere told the court that the approval minute endorsed local production of the redesigned currency.

He added that the Central Bank of Nigeria (CBN) subsequently engaged the Nigerian Security Printing and Minting Company (NSPMC) to handle local production of the notes, while certain design elements and security features were provided by De La Rue, a foreign currency printing firm. Emere said NSPMC was paid in naira, while De La Rue received payment in foreign currency for its role.

Emefiele is standing trial on charges relating to the naira redesign programme, including allegations that parts of the exercise were carried out without due process and caused public injury. He has pleaded not guilty to the charges.

The case continues before the Abuja High Court, with further hearings adjourned to a later date.