EFCC clears ex-CBN Governor, Charles Soludo of polymer contract scam

The Economic and Financial Crimes Commission on Monday said a former Governor of the Central Bank of Nigeria, Charles Chukwuma, has no case to answer regarding investigations into allegations of bribery involving Securency Pty Ltd of Australia and officials of both the CBN and the Nigerian Security Printing and Minting (NSPM) Plc over the supply of polymer substrate to Nigeria.

Speaking at a press conference in Abuja, EFCC Chairman, Ibrahim Lamorde, said after extensive investigation, the commission found that Mr. Soludo had nothing to do with the matter.

Saying no wrongdoing was established against him, the EFCC boss said the former CBN governor has since been cleared.

Following the October 1, 2009 launch of the polymer bank notes in Nigeria, which saw the N5, N10, and N50 notes remade in polymer material as against the original paper version, a scandal broke that CBN and NSPM officials received bribes to effect the switch to polymer.

In January 2013, the EFCC summoned Mr. Soludo (as Governor of CBN and chairman of the Board of NSPM at the time the alleged offence was committed) to clarify matters and state what he knew about the matter.

The former CBN Governor consistently denied any wrongdoing.

Credit: Nnenna Ibeh/Premium Times