The seventh prosecution witness of the Economic and Financial Crimes Commission (EFCC), Chinelo Eneanya, has told the Federal Capital Territory High Court in Maitama, Abuja, that the naira redesign policy introduced under former Central Bank of Nigeria (CBN) Governor Godwin Emefiele brought significant hardship to Nigerians.
Eneanya, an EFCC investigator, said before the court on Thursday that he was part of the team that probed the controversial redesign exercise.
Led in evidence by prosecuting counsel Rotimi Oyedepo, the witness stated that video evidence presented in court showed how the policy negatively affected citizens across the country.
He explained that his team analyzed multiple forms of evidence—including documents, electronic data, and audiovisual materials—to assess the impact of the policy.
“We examined documentary, electronic, and audiovisual evidence on how the naira redesign affected the public,” he said.
Several exhibits were admitted by the court, including official documents, video recordings, certificates of identification, certified true copies of delivery notes, and meeting notices.
Six video clips aired by News Central, Channels Television, TVC News, and Arise News were played in court, all depicting the widespread difficulties Nigerians faced during the cash scarcity period.
The prosecution also tendered the bills of settlement related to the redesigned naira notes for 2022 and 2023, which were admitted without objection from the defence counsel, Olalekan Ojo (SAN).
Eneanya testified that the videos and other findings revealed public frustration, as citizens struggled to afford basic necessities and sustain their businesses.
He further disclosed that CBN’s Board of Directors and Committee of Governors only became aware of the presidential approval after the redesign policy had already been implemented.
“During the investigation, we examined whether the laws guiding changes to the naira were properly followed or violated,” he said.
When the witness attempted to comment on the Supreme Court’s ruling regarding the naira redesign, the defence counsel objected, arguing that he could not testify on a public document he did not author. However, Justice Maryanne Anenih overruled the objection, ruling that the witness was merely presenting evidence and not interpreting the document.
Eneanya also confirmed that Emefiele was interrogated during the EFCC investigation, and his statements were submitted as part of the evidence. The former CBN boss was also questioned about whether the Board of Governors formally approved the policy.
Following a request from the defence for more time to cross-examine the witness, the court adjourned the case until November 26, 2025.
Earlier in March, Eneanya had testified that Emefiele ignored the naira redesign plan approved by former President Muhammadu Buhari, opting instead for his own version. According to him, the presidentially approved design featured advanced security elements such as colour variations and a QR code to prevent counterfeiting, but Emefiele allegedly abandoned these features and implemented a rushed alternative.
0 Comments