Emefiele: Politics involved in naira redesign, says witness

Oct. 2, 2024 - Punch Newspapers

Shonubi, led in evidence by prosecuting counsel, Rotimi Oyedepo (SAN), said, “The currency redesign of 2022 was the only one that I was part of. He said what the CBN under Emefiele produced after the naira redesign was different from what the former President, Muhammadu Buhari approved.

When asked if he knew all that transpired between Buhari and Emefiele in the course of the naira redesign, he answered no. He said the memo presented to the president for the naira redesign was solely prepared by Emefiele and sent to the president.

He added that the CBN, under Emefiele, did not follow its laid down procedures for the currency redesign...