In a courtroom drama unfolding at the High Court of the Federal Capital Territory (FCT) in Maitama, a former Director of Currency Operations at the Central Bank of Nigeria (CBN), Ahmed Bello Umar, made startling revelations regarding the redesigned naira notes produced during the tenure of ex-Governor Godwin Emefiele.
Testifying before the court on Tuesday, Umar asserted that the redesigned currency notes deviated from the specifications approved by former President Muhammadu Buhari.
Umar, who was present during the naira redesign exercise, disclosed that President Buhari had given approval on October 13, 2022, for specific designs of the N1000, N500, and N200 notes.
However, he alleged that the approved specifications were subsequently altered. He emphasized the importance of adherence to the CBN Act, which mandates recommendations from the CBN Board of Directors to the President for new currency notes and requires the President’s approval on form, design, and devices.
The witness highlighted discrepancies between the approved designs and the actual notes produced, such as the absence of a “QR code,” differences in portrait positioning, and numbering style.
Despite cross-examination by defense counsel Mahmud Magaji (SAN), Umar maintained that he played a pivotal role as the Director of Currency Operations, ensuring the legality of currency issuance with his signature alongside the CBN Governor’s.
Further testimony came from the second prosecution witness, Ahmed Halilu, the Managing Director of the Nigerian Security Printing and Minting Plc (NSPM).
Halilu corroborated Umar’s claims, stating that the approved designs were not implemented due to feasibility issues.
He revealed that a UK-based company, Delarue, was subsequently engaged by the CBN to redesign the notes, resulting in variations from the original presidential approval.
Halilu outlined differences between the altered designs and the presidential approval, including modifications to the QR code, numbering system, and watermark position.
He confirmed that the redesigned notes produced by Delarue were approved by the CBN Governor, who chairs the NSPM’s Board of Directors.
The redesigned notes, approved and signed by the CBN Governor, are currently in circulation.
Under cross-examination, Halilu clarified his academic background and lack of professional printing expertise.
He highlighted the close relationship between the CBN and NSPM, emphasizing the CBN’s majority stake in the NSPM and its role as the primary customer for currency printing.
With the conclusion of cross-examination, Justice Maryanne Anenih adjourned further proceedings until September 19, marking a temporary halt to the riveting courtroom saga surrounding the alleged unlawful printing of naira notes under Emefiele’s tenure.