Court Sets Accelerated Timeline to Conclude Emefiele’s Naira Redesign Trial
A Federal High Court has moved to expedite the trial of former Central Bank Governor, Godwin Emefiele. The court announced its intention to conclude the proceedings within the next ten days. This decision follows months of legal arguments surrounding the controversial 2022 Naira redesign policy. Furthermore, the presiding judge has established a final deadline in June for the entire case. This development aims to provide a swift resolution to one of Nigeria’s most significant trials.
Emefiele faces multiple charges related to the implementation of the currency overhaul. The prosecution alleges that the process bypassed essential legal and administrative protocols. They argue that the policy caused unnecessary economic hardship for millions of Nigerians. Consequently, the court is now prioritising the final testimonies from key financial experts. The legal team representing the former governor continues to maintain his total innocence. They insist that the policy received all necessary executive approvals during the previous administration.
The accelerated timeline reflects the judiciary’s desire to clear high-profile corruption cases quickly. Throughout the trial, the prosecution has presented several documents as evidence of financial irregularities. These include internal memos and correspondence between the Central Bank and other federal agencies. However, the defence has challenged the authenticity and relevance of several of these exhibits. The judge noted that the swift conclusion is in the public interest. He stressed that the nation needs clarity on the legality of such major policies.
Legal observers believe the outcome will set a precedent for future central bank governors. It will define the boundaries of executive power regarding monetary policy and currency changes. If convicted, Emefiele could face significant prison time and forfeiture of assets. Conversely, an acquittal would raise questions about the nature of the state’s prosecution. For now, all eyes remain on the courtroom as the final days approach. The nation awaits a definitive ruling on a policy that reshaped its economy.
Below is a quick reminder of the timeline of Significant Testimonies since the trial commenced:
October – November 2023: Godwin Emefiele provided six detailed extra-judicial statements during a two-week probe explaining the administrative necessity and executive rationale behind the currency overhaul.
May 2024: Central Bank officials testified that the policy aimed to mop up excess liquidity but acknowledged significant internal concerns regarding the compressed implementation window.
January 2026: EFCC operative Emere Chinedu confirmed that former President Buhari approved the redesign in writing, specifically mandating that all new currency notes be printed locally.
January 27, 2026: The prosecution presented digital footage of national unrest to link the policy’s execution directly to the severe social and economic suffering of the Nigerian public.
June 2026: The court established a strict June deadline to conclude the trial following upcoming expert testimonies on the long-term fiscal impact of the currency change.
The court has therefore warned both legal teams against seeking further adjournments. The judge insisted that the established schedule must be followed without any delays. This firm stance aims to prevent the case from dragging into the late year. Additional security has been deployed around the court premises to ensure a smooth process. Citizens and investors alike are tracking the developments for signs of fiscal accountability. This trial represents a crucial test for the independence of the Nigerian judiciary.