Emefiele’s Naira Redesign Caused Economic Hardship – EFCC Witness

An investigator with the Economic and Financial Crimes Commission (EFCC), Chinelo Eneanya, on Thursday, said the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele’s Naira notes redesign brought untold economic hardship to Nigerians.

New Telegraph reports that Eneanya, who spoke at an Abuja high court, was the seventh prosecution witness (PW7) in Emefiele ‘s trial on the redesign of naira notes of N1000, N500 and N200.

Being led in evidence by the prosecution counsel, Rotimi Oyedepo, SAN, the witness told the court that from the video evidence tendered in court, the new naira notes redesign policy injured the public.

According to him, he was in court to give evidence on the investigation carried out in this case and its findings.

When asked whether the commission’s investigation covered the allegations in the case, he said: We investigated the allegations that the conduct of the defendant caused injury to the people.

He said, ‘It has a direct bearing on how the effect of the naira redesign severely affected the public. We looked at the documentary, electronic and audiovisual evidence of the effect of the naira redesign on the public.”

The Prosecution then tendered the documents, the audio-visual device and the certificate of identification in evidence.

Additionally, the certified copy of a bundle of documents, tagged delivery notes and notice of meeting, was admitted.

Further, the bill of settlement in respect of the redesigned naira notes, 2022 and 2023, was tendered and marked as evidence.

The defendant’s counsel, Olulekun Ojo, SAN, did not object to the tendering of the documents.

Six video (audiovisual) evidence were played in the court, which are from News Central, Channel Television News, TVC News and Arise News.

When asked what the commission’s findings on the video shown were, the witness answered:” It showed that there was widespread frustration and difficulties from the public in meeting their daily needs, and their businesses were equally affected.

” On the investigation conducted, we found that board members and the committee of governors of CBN interviewed got to know about the approval of the president after it was approved. “

The witness said in the course of the investigation, the electronic evidence shown was to determine whether there was any impact on the members of the public.

He added from the introduction of the new redesigned N1000, N500 and N200 notes by the CBN, and to see the level of the hardship on the public.

” In the course of the investigation, we set out to determine how the laws on the change of policy on Naira redesign were applied or abused”.

Ojo, however, objected when the witness wanted to speak on the Supreme Court‘s judgment on the naira redesign notes. He said no witness can give evidence on a public document, he did not bring about.

Responding, Oyedepo said the video evidence the party that tendered a document should be the only one to speak on it.

He added so that it does not amount to dumping it on the court. He cited authorities. He said PW7 investigated the allegations and should not be said to be hearsay. He cited authorities also.

”The witness has not given evidence to vary or alter the findings of the Supreme Court. The objection is premature.”

Justice Maryann Anenih overruled the objection, saying that the argument was about giving evidence on a document and dumping evidence on the court.

”The witness can go on and only give evidence that links to the document. “

Oyedepo asked the witness if the defendant was interviewed by EFCC. He said: “Yes”. He tendered in evidence the extrajudicial statements made by Emefiele to EFCC.

Oyedepo asked whether the defendant, in the course of investigation, was confronted with the question whether the Board or governors approved the redesign?

”He was confronted, and he wrote in his statement that he did not.”

Ojo asked for an adjournment for the cross-examination of PW7. The prosecution did not object.

Justice Anenih granted the application for adjournment in the interest of justice until Nov. 26.