Emefiele denies illegal naira printing, gets N300m bail

An FCT High Court in the Maitama area of Abuja has admitted the embattled former Central Bank of Nigeria (CBN) Governor Godwin Emefiele to bail in the sum of N300 million.

Presiding judge Justice Maryann Anenih granted Emefiele bail while ruling on his bail application over alleged unlawful naira colour swap on Wednesday, May 15, 2024.

The Economic and Financial Crimes Commission (EFCC) brought against him a four-count amended charge bordering on disobedience to the direction of the law.

Justice Anenih also ordered two sureties in the like sum of N300 million who must have property in Maitama.

The sureties, the judge said, must in addition present the title documents and certificates of occupancy (CofO) to the court for verification.

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She directed the sureties to submit to the registrar of the court their recent passport photographs.

Justice Anenih added that Emefiele should submit to the registrar of the court his travelling documents and must be in Abuja within the period of his trial.

The judge ordered the Certified True Copy (CTC) from Justice Hamza Muazu who granted him bail under the same conditions.

He earlier held that bail is at the discretion of the court according to what was placed before it, however, according to the law.

Justice Muazu added that the offence which of a six-count of confinement of advantage attracted five years imprisonment as punishment.

He held that there was nothing in the prosecution’s submission that showed that Emefiele would abscond or would jeopardise an investigation or threaten the security of the country.

The Star