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| Version 51 | Version 52 |
|---|---|
| Africa Live: Gabon's Bongo goes on hunger strike over son's 'torture' - BBC News | Africa Live: Gabon's Bongo goes on hunger strike over son's 'torture' - BBC News |
| (32 minutes later) | |
| Nkechi Ogbonna | |
| West Africa business journalist, BBC News | |
| Nigeria's once powerful central bank governor has pleaded not guilty to illegally printing new naira notes. | |
| Godwin Emefiele appeared in court on Wednesday at the Federal High Court in Abuja to face charges brought against him by the Economic and Financial Crimes Commission (EFCC). | |
| Mr Emefiele has been embroiled in a corruption scandal since last year. | |
| The anti-corruption | |
| agency says the embattled bank boss committed wrongdoing when implementing the naira | |
| swap policy during former President Muhammadu Buhari's administration. | |
| Mr Emefiele, 62, is already standing trial for a | |
| 26-count charge on abuse of office and procurement fraud to the tune of 1.6bn naira ($1 million). | |
| He has denied all allegations. | |
| In November 2022, the former central bank | |
| governor implemented a redesign of the country’s 200, 500 and 1,000 naira | |
| banknotes. | |
| Amidst backlash from some political quarters, | |
| the former bank governor said the policy was aimed at mopping up excess cash in | |
| circulation, combatting the financing of terrorism and preventing currency counterfeiting, which it | |
| alleged had spiked owing to improved photographic technology. | |
| Nigerians had a short window to exchange | |
| their old notes for new ones, which caused a months-long scarcity of banknotes. | |
| The dearth of notes caused panic among the population. Street protests and attacks | |
| on commercial banks occured in some parts of the country. | |
| Both the old and new banknotes are currently | |
| in circulation. | |
| ShareView more share optionsShare this postCopy this linkRead more about these links. | ShareView more share optionsShare this postCopy this linkRead more about these links. |
| Copy this link | Copy this link |
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