The suspended governor of the Central Bank of Nigeria, Godwin Emefiele, has been granted bail of N300 million in the case concerning the alleged unlawful printing of naira notes.
He entered a plea of not guilty before the Federal Capital Territory High Court in Maitama, Abuja, on Wednesday.
The Economic and Financial Crimes Commission brought Emefiele before Justice Maryanne Anenih of the court under a suit marked CR/264/2024.
According to the charge sheet filed by the EFCC, Emefiele was accused of approving the printing of N375.520 million pieces of color-swapped N1,000 notes without the necessary approvals.
The Economic and Financial Crimes Commission, EFCC, alleged that Emefiele had without authorization from former President Muhammadu Buhari, printed N684 million Notes with a total sum of N18.96billion.
Emefiele denied all the allegations when they were read to him in court. His lawyer, Mahmud Magaji, requested bail on self-recognizance for his client, citing the bailable nature of the offenses. Magaji also noted Emefiele’s consistent attendance at court proceedings for other criminal matters.
The EFCC did not oppose the bail application but requested the removal of certain claims in the bail application, deeming them offensive. They urged the court to impose conditions ensuring Emefiele’s presence in court throughout the case.
Emefiele’s lawyer agreed to these conditions and orally presented the bail application. Justice Anenih granted bail in the sum of N300 million with two sureties who must own properties within Maitama District, Abuja. Emefiele was also required to surrender his international passport and refrain from leaving the country.
The judge acknowledged the bail terms Emefiele had already complied with in another case, allowing him to provide certified true copies (CTC) of those terms for this ruling. The case was adjourned to May 28th and 29th, 2024.
