Ahmed Umar, a former director of currency operations at the Central Bank of Nigeria (CBN), has accused the immediate past governor, Godwin Emefiele, of printing a naira design that differed from the one approved by former President Muhammadu Buhari.
The allegations emerged during Umar’s testimony at the Federal Capital Territory (FCT) High Court in Maitama. Umar revealed significant discrepancies between the naira design approved by Buhari and the one Emefiele authorized for printing.
“The design approved by the President had a QR code, which the currency in circulation does not,” Umar stated.
He further detailed other variations, noting, “The positioning of the portrait was on the right side in the approved design, but the CBN-printed version had it on the left. Additionally, the number scheme approved by the President is different from what the CBN produced.”
These revelations come amidst ongoing legal troubles for Emefiele. On May 15, the Economic and Financial Crimes Commission (EFCC) arraigned him on a four-count charge before Justice Maryanne Anenih of the FCT High Court. Emefiele has denied the charges and was granted bail set at N300 million.
The allegations against Emefiele have raised serious concerns about the integrity of Nigeria’s currency management and the adherence to presidential directives. The discrepancies in the naira design not only undermine the authority of the presidency but also potentially compromise the security and authenticity of the national currency.