Buhari didn’t approve Emefiele’s naira redesign – CBN ex-deputy gov - Tellbrief.com

Buhari didn’t approve Emefiele’s naira redesign – CBN ex-deputy gov

Emefiele is being prosecuted by the Federal Government over the chaotic naira redesign policy of the CBN under his watch in late 2022. He, however, claimed that the 2022 naira redesign exercise carried out by Emefiele during ex-President Muhammadu Buhari’s administration was without the approval of either the President or the CBN Board, contrary to the law.

During cross-examination, the defense counsel, Olalekan Ojo (SAN), asked Adamu if, prior to the recent naira redesign, it was customary for a board recommendation to precede presidential approval. Ojo then asked if there had ever been a practice where the President gave approval before the board was informed.

The defence counsel then asked Adamu if he was privy to any discussions between the former CBN governor and the President regarding the specifics of the redesign...

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