A Federal Capital Territory High Court sitting in Abuja, has granted the immediate past Governor of the Central Bank of Nigeria, Godwin Emefiele, bail of N300 million, following his arraignment on the unlawful redesign of the naira notes.
The judge preceeding over the matter, Justice Maryanne Anenih, on Wednesday, granted Emefiele bail stating that, there is a “cogent and compelling reason to grant the bail application.”
Recall that the ex-CBN Governor was accused of approving the printing of N684.5 million at the rate of N18.96 billion.
The anti-graft agency also said Emefiele unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
The former apex bank chief was also said to have 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.
EFCC, also claimed that Emefiele embarked on the naira redesign without the approval of the Board of the CBN as well as the then President, Buhari.
As regards this claims, Emefiele pled not guilty to all four count charges read to him by the prosecution, Economic and Financial Crimes Commission, before Justice Maryanne Anenih.
However, Justice Anenih, on this note granted Emefiele bail with similar conditions as previously granted by Justice Hamza Muazu.
She granted him bail to the sum of N300m and two sureties.
She held that the sureties must be responsible citizens and own property worth the bail sum within the FCT.
She added that the property documents must be verified and deposited with the court registry pending the determination of the matter.
