In a recent court testimony, a key figure involved in Nigeria's controversial 2022 currency redesign has shed new light on the political maneuvering behind the scenes.
The individual, speaking on their involvement in the process, revealed that the former Central Bank Governor, Godwin Emefiele, frequently discussed the political dynamics surrounding the redesign.
“The currency redesign of 2022 was the only one I was part of. When we had meetings with the defendant (Emefiele), he said there were politics and intrigues around the whole exercise,” the witness disclosed.
The redesign, which stirred national debate, aimed to combat inflation, curb illicit financial flows, and reduce counterfeit currency circulation. However, Emefiele's alleged comments suggest that political interests may have influenced the direction and timing of the process.
This testimony adds a new layer to the ongoing legal battle, as Emefiele faces charges of financial misconduct and abuse of office during his tenure as Central Bank Governor.
The courtroom revelations raise further questions about the true motivations behind the currency overhaul and whether it was driven by national interest or political agendas.
As the case continues, more details may emerge about the behind-the-scenes power plays that shaped one of Nigeria's most contentious financial reforms.
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