0:00
Federal High Court City in Legos state
0:02
has fixed November 1st 2024 to rule on
0:05
the application brought before it by the
0:07
economic and financial crimes commission
0:10
efcc for the final forfeiture of the
0:12
properties and monies linked to the
0:14
former Central Bank of Nigeria CB and
0:17
Governor Godwin em who is currently
0:20
facing series of lawsuits at different
0:22
courts across the country over his
0:23
administrative behaviors and operational
0:25
decisions while he was the Apex Bank
0:27
governor in the West Africa country
0:30
Justice D theu of the federal high court
0:33
in Legos on Friday refused to stay
0:35
further proceedings in the suit filed by
0:37
the economic and financial crimes
0:39
commission efcc seeking the forfeiture
0:42
of properties and monies linked to a
0:44
former governor of the Central Bank CBN
0:47
Godwin m m had through his lawyer olon
0:52
Ojo s urged the judge to State
0:55
proceedings pending the hearing of an
0:57
appeal he filed before the court of
0:59
appeal seeking to modify the temporary
1:01
forfeiture order earlier granted by the
1:03
court rejecting The Plea Justice dende
1:07
deu held that interested parties had the
1:09
right to approach the court of appeal
1:11
which must be contingent on the trial
1:13
Court's decision the court also held
1:16
that an appeal flows from the decision
1:18
of a trial court but in the instant case
1:22
the court had not made any decision as
1:24
to any application filed or as to the
1:27
substantive issues in the suit during
1:29
during the court sitting on September
1:31
12th oo had urged the court to stay
1:34
further proceedings in the case pending
1:36
the determination of the bankers appeal
1:39
mf's lawyer Ojo had said why urging your
1:43
lordship to stay proceeding spending the
1:45
hearing and determination of the appeal
1:47
court to avoid judicial
1:49
rascality efcc lawyer Ro oo s objected
1:55
insisting that no application from mfla
1:58
was taken and ruling on crystallized to
2:01
an appeal Justice deolu on Friday
2:04
therefore fixed November 1st 2024 to
2:07
rule on the application by the
2:08
anti-graft agency for final forfeiture
2:11
$2.45 million seven Choice landed
2:15
properties and shares linked to MF
2:18
meanwhile in another Court entertaining
2:21
a case of alleged fraud against the
2:23
former CBN Governor Godwin m a former
2:27
deputy governor of the aex bank
2:28
testified before the Federal high court
2:30
in Abuja onw that M didn't have the
2:33
Nigeria president muhammadu bhari and
2:35
CBN B's approval for NRA design that led
2:38
to scarcity of the nirra notes in the
2:40
country prior to the February 2023
2:43
general elections in the country ECC in
2:46
a news release reported that Edward
2:49
adamu false prosecution witness pw4 in
2:54
the trial of the former Governor of the
2:55
Central Bank of Nigeria TBN Godwin m F
3:00
on Wednesday October 9th 2024 told
3:03
Justice Maran an of the federal capital
3:05
territory fct High Court MMA Abuja that
3:10
MF did not have the approval of either
3:13
former president muhammadu bhari or that
3:15
of the CBM board for the 2023 redesign
3:18
of nirra notes as required by the rules
3:21
LED in evidence by prosecution Council
3:24
rotim son adamu disclosed that the usual
3:28
process for currency redesign begins
3:30
with the director of currency operations
3:32
submitting a proposal to the committee
3:34
of Governors called the Cog then
3:38
transmits the proposal to CBN board for
3:41
approval with the final stage being the
3:43
seeking of presidential endorsement mfla
3:47
he said by pass these procedures by
3:50
simply calling for a cog meeting and
3:52
presented what he claimed was a
3:54
presidential approval and proceeded with
3:57
the redesign straight away I became
4:00
aware of it in October 2022 when the
4:03
governor informed us the deputy
4:05
Governors that he had gotten an Express
4:08
approval to redesign the currency then
4:11
on the 26th of October 2022 we were
4:16
formally informed of the presidential
4:18
approval of the redesign so that is what
4:21
happened in October then there was a
4:23
formal announcement of the currency
4:25
redesign at the meeting the governor
4:28
showed us the approval approval of the
4:30
president by showing us the page where
4:32
the approval of the president is
4:35
subsequently there was a b meeting of
4:38
the board of directors while we were
4:40
also informed of the presidential
4:42
approval of the currency redesign he
4:45
said he further disclosed that the
4:48
current designs of the notes
4:50
fundamentally differ from what was
4:52
originally approved stating that MF
4:55
unilaterally meant the changes the
4:57
redesign affected 200 Nas 500 Nas and
5:02
1,000 Nas notes when the defense Council
5:06
oron Ojo son sought to know if there had
5:09
been instances where a presidential
5:11
approval was gotten for an action before
5:14
the CBN board was informed the witness
5:17
stated that such was not the practice
5:19
during his time at the Apex Bank Justice
5:22
and any discharged the witness from the
5:24
dock at the end of the Cross examination
5:27
and adjoined the matter till October
5:29
17th 2024 for continuation of
5:33
trial Med bringing you news in a more
