Court Admits Newspaper Evidence in Emefiele’s Naira Redesign Trial

ABUJA – The Federal Capital Territory (FCT) High Court in Maitama on Monday, May 11, 2026, admitted several newspaper publications as exhibits in the ongoing trial of the former Governor of the Central Bank of Nigeria (CBN), Godwin Ifeanyi Emefiele.

​The Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele on a four-count charge related to the allegedly unlawful redesign of the Naira in 2022. The prosecution contends that the former apex bank chief disobeyed legal directives and authorized the printing of currency notes that differed from the prototypes approved by former President Muhammadu Buhari.

​During the proceedings, Justice Maryanne Anenih admitted certified copies of The Punch, ThisDay, Vanguard, Daily Sun, and The Nation newspapers. These documents, along with their respective certification receipts from the National Library, were tendered by the eighth prosecution witness (PW8), Jegede Oluwasegun.

​Rotimi Oyedepo, SAN, the lead prosecution counsel, explained that the presentation of these documents was a direct response to a motion filed by the defense on March 31, 2026. The defense had requested that the prosecution produce all official press releases and media publications concerning the redesign policy to provide a comprehensive record of the public directives issued at the time.

​According to the EFCC’s allegations, the controversial policy led to the printing of 375,520,000 pieces of “color-swapped” N1,000 notes at a cost of over N11 billion without proper board recommendation. ValidViewNetwork reports that the naira redesign policy triggered a severe currency scarcity that inflicted significant hardship on millions of Nigerians during the first quarter of 2023. Furthermore, ValidViewNetwork reports that previous witnesses have testified that the CBN board was only informed of the policy in mid-December 2022, long after the initial implementation steps had been taken.

​During cross-examination, the defense counsel, Olalekan Ojo, SAN, questioned the witness on his knowledge of the articles’ contents. Mr. Oluwasegun, an official of the National Library, clarified that his role was strictly limited to the certification and custody of the documents. “I am not the author of these publications, and I cannot speak to the accuracy of their content; my duty is simply to certify them as records held by the National Library,” he stated.

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​This trial is one of several legal battles facing the former CBN Governor, including separate charges involving an alleged fraudulent withdrawal of $6.23 million from the CBN vault under the guise of funding foreign election observers.

​Justice Anenih has adjourned the matter until Wednesday, May 13, 2026, for the continuation of the hearing.