Naira Printing Allegation: Emefiele Secures N300m Bail



Former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has secured a N300 million bail after he pleaded not guilty to the allegation of approving the printing of N684.5 million at the rate of N18.96 billion slammed against him by the Economic and Financial Crimes Commission (EFCC).

News About Nigeria reported that Justice Maryann Anenih of the High Court of the Federal Capital Territory (FCT), Abuja, on Wednesday granted the embattled former CBN boss bail after he pleaded his innocence to the allegation by the EFCC.

Recall that the anti-graft agency had accused Emefiele of unlawfully approving the withdrawal of about N124.8bn from the consolidated revenue fund.

Following his plea of innocence, Emefiele, through his team of lawyers led by Mahmud Magaji (SAN), prayed to the court to allow him to go home on bail, pending the determination of the case against him.

Magaji, while praying to the court, assured that his client (Emefiele) would always be available to attend his trial if granted bail.

Deciding on the matter, Justice Anenih granted the embattled former CBN governor bail to the tune of N300 million, with two sureties in the same sum.

According to the court, the sureties must be owners of landed properties within the Maitama district of Abuja and must be residents of Nigeria.

The court ordered Emefiele to surrender his international passport, warning that he must not travel out of Nigeria without permission.

Justice Anenih, who adjourned the case to May 28 and 29 for the commencement of trial, also ordered that the former CBN boss be remanded at Kuje Prison, Abuja, until the perfection of all the bail conditions.

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