Emefiele’s Naira Notes Redesign Brought Untold Economic Hardship To Public – EFCC Witness

An official of the Economic and Financial Crimes Commission (EFCC), Chinelo Eneanya, told an Abuja High Court on Thursday that the naira redesign policy introduced by former Central Bank of Nigeria Governor Godwin Emefiele caused economic hardship for Nigerians.

Eneanya, an investigator with the EFCC 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.

He said he was in court to give evidence on the investigation carried out in this case and their 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.

‘It has direct bearing on how or the effect of the naira redesign severely affected the public.

“We looked at the documentary,  electronic  and audio visual 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 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 were tendered and marked as evidence.

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

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

When asked what was the commission’s findings on the video shown, the witness answered: ”it showed that there were 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 committee of governors of CBN interviewed got to know about the approval of the president after, it was approved. “



The witness said in the cause of the investigation,  the electronic evidence shown was to know whether there were 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 cause of the investigation, we set out to determine how the laws on change of policy on Naira redesign was applied or abused”.

Ojo, however, objected when the witness wanted to speak on the Supreme court ‘s judgment on naira redesign notes.

He said no witness can give evidence on a public document, he did not brought about.

Responding, Oyedepo said the video evidence,  the party who 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 to 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 which links to the document. “



Oyedepo asked the witness if the defendant was interviewed by EFCC, he said: “ yes”



He tendered in evidence the extra judicial statements made by Emefiele to EFCC.

Oyedepo asked whether the defendant in the cause 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 cross-examination of PW7.

The prosecution did not object .

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