Naira Swap: EFCC To Arraign Emefiele On Wednesday

The arraignment was originally scheduled for April 30, 2024, but was rescheduled following the agreement of the court and the parties.
In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.
The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
On Nov. 17, 2023, Emefiele was arraigned before Justice Hamza Muazu on a six-count charge of procurement fraud to which he pleaded not guilty.    He was also accused of abusing his office by approving a contract for the acquisition of 43 vehicles totalling N1.2 billion from 2018 to 2020.
On April 8, 2024, the EFCC also arraigned the former banker alongside one Henry Omoile before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos for an alleged $4.5bn and N2.8bn fraud.
He has also pleaded not guilty to the charge.
The new charge, dated April 2, 2024, was filed by the EFFC prosecutor Rotimi Oyedepo ,SAN, alongside eight other lawyers acting on behalf of the Attorney General of the Federation.