Former CBN Governor, Godwin Emefiele, granted N300 million bail by a Federal Capital Territory High Court amid charges of illegal naira printing by the EFCC. Emefiele pleaded not guilty to four counts. The court ruled for bail, requiring two sureties and travel document deposition. Trial set for May 28-29.
A Federal Capital Territory high court has granted bail to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), amounting to N300 million. Emefiele, who pleaded not guilty to four-count charges brought against him by the Economic and Financial Crimes Commission (EFCC), was granted bail by Justice MaryAnn Anenih on Tuesday.
His counsel, Mahmud Magaji, successfully argued for bail on the grounds of self-recognition, referencing similar bail conditions granted by a previous court.
The bail conditions stipulate two sureties who must be residents of Nigeria and own property within the Maitama district of Abuja, accompanied by an affidavit of means. Emefiele is also required to surrender his travel documents and is prohibited from leaving the country without court permission. Additionally, he is to be remanded at Kuje Correctional Centre until the bail conditions are met.
The case, adjourned to May 28 and 29, centers on allegations of Emefiele's involvement in the unauthorized printing of naira notes, with EFCC accusing him of flouting legal directives and causing potential harm to the public by approving the printing of N684.5 million notes without appropriate authorization.
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