A prosecution witness of the Economic and Financial Crimes Commission (EFCC), Chinelo Eneanya, has told an FCT High Court that the naira redesign policy introduced by former Central Bank of Nigeria (CBN) Governor Godwin Emefiele caused widespread hardship for Nigerians.
Eneanya, an EFCC investigator, stated this while being led in evidence by prosecuting counsel Rotimi Oyedepo (SAN), noting that video evidence presented in court showed citizens struggling to meet basic needs and sustain their businesses during the nationwide cash scarcity.
According to her testimony, the investigative team reviewed various forms of evidence, including documents, electronic materials, and audiovisual recordings, to assess the effects of the controversial policy.
“We looked at the documentary, electronic and audiovisual evidence of the effect of the naira redesign on the public,” Eneanya said.
The court admitted several exhibits tendered by the prosecution, including certified true copies of delivery notes, notices of meetings, bills of settlement for the redesigned naira notes (2022–2023), and six video clips produced by national television stations.
Eneanya told the court that the videos revealed widespread public frustration, highlighting how millions of Nigerians faced extreme difficulties in accessing cash for daily transactions during the redesign period.
She further disclosed that the investigation revealed that members of the CBN Board and Committee of Governors were only informed of presidential approval for the redesign after the policy had already been implemented.
“In the course of the investigation, we set out to determine how the laws on changes to the naira policy were applied or abused,” she added.
When defence counsel Olalekan Ojo (SAN) objected to the witness’s attempt to comment on the Supreme Court judgment regarding the redesign, Justice Maryanne Anenih overruled the objection, holding that the witness could testify based on documentary evidence.
Eneanya confirmed that Emefiele was interviewed by EFCC investigators, and his extra-judicial statements were tendered as part of the evidence.
The case was adjourned to November 26 to allow the defence counsel time to cross-examine the witness.
