EFCC reveals how Emefiele spent N18billion to print N1billion notes.
Just fresh investigation by the Economic and Financial Crimes Commission (EFCC) has revealed how a former Governor of the Central Bank of Nigeria, Godwin Emefiele, allegedly orchestrated the printing of one billion pieces of N100 banknotes and the production of 5000 pieces of acrylic blocks, PREMIUM TIMES can report today. The notes and acrylic blocks were procured in commemoration of Nigeria’s centenary celebration in October 2014. Acrylic blocks are used for photopolymer stamping. Sources within the anti-graft agency disclosed that Mr Emefiele did a memo to former President Goodluck Jonathan on September 1, 2014 preparatory to the centenary celebration seeking approval to print the banknotes and acrylic blocks without passing through the board of the CBN as demanded by the CBN Act, 2007. Findings showed that contrary to Section 19(1)(b) of the CBN Act, 2007, which stipulates that the currency notes and coins issued by the CBN shall be of such forms and design a...