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Emefiele reveals who approved redesign of N200, N500, N1000 notes

Former Central Bank of Nigeria governor, Godwin Emefiele, has reacted to a report by CBN investigator, Jim Obaze, alleging that there was no presidential approval for the redesign of the N200, N500 and N1,000 naira notes in 2022.

Obaze had said that former President Muhammadu Buhari’s nephew, Tunde Sabiu, approved the naira redesign programme.

According to the report, Buhari only tagged along after the approval had been given by his nephew who also served as the former president’s personal assistant.

In a statement days after his release from Kuje prison, Emefiele described the allegation and others made by Obaze as barefaced lies.

The former CBN Governor, said that the presidential approval for the Naira redesign programme was handed to Obazee in front of senior CBN officials and members of the Private Investigator’s team.

“I have gone through the publications, and I say boldly that the contents of the said publications are false, misleading and calculated to disparage my person, injure my character and to serve the selfish interest of the private investigator,” Emefiele said on Sunday.

“First, it was reported that, contrary to the provision of the CBN Act 2007, there was no presidential approval for the Naira redesign. I wish to state unequivocally that there was indeed a presidential approval, and the said approval was handed over to the same Jim Obazee during the process of his investigation in the presence of senior CBN officials and his own investigative team.

“Moreover, the former President Muhammadu Buhari has stated on a number of occasions that he authorised and approved the Naira redesign. I am therefore at a loss as to why Mr. Jim Obazee will mislead Nigerians that there was no presidential approval,” he added.

Emefiele also denied operating over 500 foreign accounts during his time at the CBN.

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