A Federal Capital Territory, FCT, High Court sitting in Maitama has granted former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, a N300 million bail after he pleaded not guilty to charges bordering on unlawful printing of the naira notes by the Central Bank of Nigeria, CBN
Emefiele was arraigned before Justice Maryann Anenih of the Federal Capital Territory High court on four counts brought against him by the Economic and Financial Crimes Commission, EFCC.
While granting the bail application, Justice Anenih also ordered Emefiele to produce for two sureties in like sum who must have property in the Maitama district of Abuja
Justice Anenih ordered the defendant to deposit his travel documents with the court, adding that he 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 FCT High Court), before whom he is being tried on another criminal case.
According to the judge, it would suffice if Emefiele was able to produce the certified true copies (CTCs) of the documents he submitted in fulfillment of the bail earlier granted by Justice Muazu.
She adjourned till May 28 for the commencement of trial.
The EFCC alleged that Emefiele, between October 2022 and March 2023, disobeyed the direction of section 19 of the CBN Act by approving the printing of 375,520,000 pieces of ”colour swapped” N1.000 for N11billon without the recommendation of board of the bank.
In count two, he was accused of spending N4.4 billion to print 172,070,000 pieces of N500 colour swap.
While count three stated that the embattled CBN governor used N3.4 billion to print colour swap of 137,070,000 pieces of N200.
EFCC also accused Emefiele in count four of withdrawing N124.8 billion from the consolidated revenue fund of Federation in a manner not prescribed by the National Assembly which caused injury to the public , contrary to section 123 of the penal code.
He pleaded not guilty to the charge preferred against him
