ABUJA — A prosecution witness in the trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has told an Abuja High Court that the Naira redesign policy introduced under his watch caused severe economic hardship to Nigerians.
The witness, Chinelo Eneanya, an investigator with the Economic and Financial Crimes Commission (EFCC), testified as the seventh prosecution witness (PW7) in the ongoing case involving the redesign of the ₦1,000, ₦500, and ₦200 notes.
Led in evidence by prosecution counsel, Rotimi Oyedepo (SAN), Eneanya said video evidence tendered in court showed that the policy inflicted hardship on the public.
“We investigated the allegations that the defendant’s actions caused injury to the people,” she said. “The redesign had a direct bearing on citizens’ ability to meet daily needs and sustain their businesses.”
The prosecution tendered several exhibits, including documentary, electronic, and audiovisual materials, as well as certified delivery notes, notices of meetings, and bills of settlement on the redesigned notes from 2022 and 2023.
Defence counsel, Olulekun Ojo (SAN), did not object to the tendering of the documents.
Six video clips from News Central, Channels Television, TVC News, and Arise News were played in court, showing scenes of public frustration during the implementation of the policy.
Eneanya said EFCC investigators interviewed CBN board members and deputy governors, who revealed that they were only informed of the presidential approval for the redesign after it had already been granted.
She added that the investigation sought to determine whether due process was followed and to assess the impact of the redesign on citizens.
Ojo, however, objected when the witness attempted to comment on the Supreme Court’s judgment regarding the policy, arguing that she could not give evidence on a public document she did not author.
In her ruling, Justice Maryann Anenih overruled the objection, holding that the witness could testify only on evidence directly linked to documents tendered in court.
Under further questioning, Eneanya confirmed that Emefiele was interviewed by the EFCC and made extrajudicial statements, which were admitted as evidence.
“He was confronted with whether the CBN Board or Committee of Governors approved the redesign, and he wrote in his statement that they did not,” she said.
The defence requested an adjournment for cross-examination, which the prosecution did not oppose.
Justice Anenih adjourned the case till November 26 for continuation of trial.