The seventh prosecution witness in the Economic and Financial Crimes Commission (EFCC) trial, Chinelo Eneanya, has told a Federal Capital Territory (FCT) High Court that the naira redesign policy introduced by the Central Bank of Nigeria (CBN) under former governor Godwin Emefiele caused severe hardship for Nigerians.
Eneanya, an EFCC investigator involved in probing the alleged unlawful redesign exercise, told the court that video evidence presented in court highlighted widespread public frustration, as many Nigerians struggled to meet daily needs and sustain their businesses during the cash crunch.
Led by prosecuting counsel Rotimi Oyedepo (SAN), Eneanya said his team examined a range of evidence, including documents, electronic records, and audiovisual materials, to assess the policy’s impact.
“We looked at the documentary, electronic, and audiovisual evidence of the effect of the naira redesign on the public,” Eneanya stated.
The court admitted multiple exhibits tendered by the prosecution, including documents, video recordings, certificates of identification, certified copies of delivery notes, and notices of meetings.
Six video clips from four national television stations were played, alongside bills of settlement relating to redesigned naira notes for 2022 and 2023.
Defence counsel Olalekan Ojo (SAN) did not object to their admission.
Eneanya added that the investigation revealed that members of the CBN Board and Committee of Governors only became aware of the president’s approval after the redesign exercise had already been implemented.
“In the course of the investigation, we sought to determine how the laws on changes to naira policy were applied or possibly abused,” the witness said.
When Eneanya attempted to comment on the Supreme Court’s ruling regarding the redesign, Ojo objected, arguing that a witness cannot testify on a public document he did not author. Justice Maryanne Anenih overruled the objection, noting that the testimony concerned giving evidence on a document, not merely submitting it.
Eneanya confirmed that Emefiele was interviewed during the investigation and that his extra-judicial statements to EFCC investigators were admitted as evidence.
The witness also said the former CBN governor was questioned on whether the Board of Governors approved the naira redesign.
Justice Anenih adjourned the proceedings to November 26, following a request from the defence for additional time to cross-examine the witness.
