The suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted an additional N300 million bail as he denies allegations of unlawfully printing Naira Notes during his tenure at the apex bank.
According to the Economic and Financial Crimes Commission (EFCC), Emefiele allegedly printed N684 million Naira Notes without authorization from former President Muhammadu Buhari, using a total sum of N18.96 billion. Additionally, he is accused of unlawfully approving the withdrawal of about N124.8 billion from the consolidated revenue fund.
Facing a four-count charge before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory (FCT), Emefiele pleaded not guilty to the allegations.
His lawyer, Mahmud Magaji (SAN), requested bail on self-recognizance pending the case’s determination, citing the bailable nature of the offenses and Emefiele’s consistent attendance at court proceedings.
While not opposing the bail application, EFCC lawyer Rotimi Oyedepo (SAN) urged the court to ensure Emefiele attends all proceedings till the case’s conclusion.
Granting bail, Justice Anenih set the bail at N300 million with two sureties in like sum, who must own properties within the Maitama District of Abuja. Emefiele was also ordered to submit his international passport and refrain from traveling abroad.
READ ALSO: Emefiele Denies Charges: Accused of Printing N684m Notes with N18.96bn
The court agreed that certified true copies (CTC) of the terms already complied with by Emefiele in another case would suffice, allowing him to go home upon presentation of the documents.
The case was adjourned to May 28 and 29, 2024.
Emefiele’s legal troubles began with his suspension by President Bola Ahmed Tinubu, leading to investigations into his tenure. He faced charges including illegal possession of firearms and ammunition, procurement fraud, and abuse of office, to which he has pleaded not guilty.
