Former Central Bank Governor Godwin Emefiele of Nigeria has entered a plea of not guilty to 26 fresh charges leveled against him by the country’s financial regulatory body.
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The Economic and Financial Crimes Commission (EFCC) alleges that Emefiele violated exchange rate regulations during his tenure as the head of the central bank.
Specifically, he is accused of improperly allocating $2 billion in foreign exchange without adhering to proper procedures.
During a court appearance in Lagos on Monday, April 8 2024, Emefiele was ordered to be held in EFCC custody until the case resumes on Thursday, April 11, 2024.
This adds to Emefiele’s legal woes, as he is already facing trial on 20 separate charges in a court in the capital, Abuja. These charges include allegations of unlawfully withdrawing $6.2 million from the Central Bank.
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Emefiele’s case is significant, as he is one of the highest-profile former officials to be implicated in corruption charges since President Bola Tinubu took office last May.
Credit: ghanaweb.com/
His suspension came shortly after President Tinubu criticized one of Emefiele’s key policies – the redesign of Nigeria’s currency, the naira – during his inauguration address.
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