‘It Is Not Buhari’s Nephew’ – Emefiele Says As He Reveals Who Approved Naira Redesign Policy

The former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said former President Muhammadu Buhari approved the Naira redesign programme.

Emefiele disclosed this in a statement on Sunday titled, “Re; Emefiele, other stole billions, illegally kept Nigeria’s funds in foreign banks” in response to the publication of the report of the Private Investigator into the affairs of the CBN, Jim Obazee.

In the report, Obazee claimed that there was no presidential approval for the Naira redesign programme.

The report also revealed that the naira redesign policy was sold to Buhari at the instance of a former presidential aide, Sabiu Tunde and that the initiative was done without the approval of the board of the CBN.


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.

Emefiele added that most of the allegations against him in the report of the special investigator are false, misleading and calculated to disparage his person, injure his character and serve Obazee’s selfish interest.

He said: “After my release on bail from the correctional centre, Kuje, my attention was drawn to publications released by the Punch Newspaper and Premium Times online news platforms.

“The sources of the information published by both media houses were credited to a certain report prepared by Mr. Jim Obazee, who was appointed by the President as a private investigator.

“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.

“Because of my present situation, I have been advised by my lawyers not to say anything in respect of the matters which have been submitted to the court for adjudication. However, I need to address some of the issues raised in the publication which are barefaced lies told by the investigator in order to achieve his satanic agenda.

“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, 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.”

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