Court grants Emefiele N300m bail in fresh charges

Former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has been granted a N300million bail following his arraignment on a four-count charge of printing new naira notes without observing due process.

The Economic and Financial Crimes Commission (EFCC), on Wednesday, arraigned embattled former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele for approving the printing of N684.5m at the rate of N18.96bn.

In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

Emefiele pleaded not guilty when the charge brought against him by the Economic and Financial Crimes Commission (EFCC) was read.

READ ALSO: Ex-CBN Gov. Emefiele arraigned for printing N684b notes with N18.96b

The ex-Governor of the CBN is the sole defendant in the charge before Justice Maryanne Anenih of the High Court of the Federal Capital Territory (FCT) in Maitama.

Other conditions attached to the bail include that he should produce two sureties who must each possess titled property within the Maitama area of the Federal Capital Territory (FCT).

Justice Anenih ordered the defendant to deposit his travel documents with the court and should not travel outside the country without the permission of the court.

The judge adopted the conditions attached to a similar bail earlier granted Emefiele by Justice Hamza Muazu (another judge of the High Court of the FCT), before whom he is being tried on another criminal case.

Justice Anenih said it would suffice if Emefiele was able to produce the certified true copies (CTCs) of the documents he submitted in fulfilment of the bail earlier granted by Justice Muazu.

She adjourned till May 28 for the commencement of trial.