Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), has been granted bail by a federal capital territory high court in the amount of N300 million.
Emefiele was charged with four counts by the Economic and Financial Crimes Commission (EFCC) and appeared before presiding judge MaryAnn Anenih on Tuesday.
Following the reading of the four counts against him, Emefiele entered a not guilty plea. Mahmud Magaji, Emefiele’s attorney, moved to request bail.
He urged the court to release his client on self-recognition, with the same terms and circumstances as those set down in the previous bail order from a coordinate court chaired by Hamza Muazu.
He added that the defendant will always be in court to face trial.
In her ruling, Anenih granted the former CBN governor bail in the sum of N300 million, with two sureties in like sum.
The court said the sureties must be residents of Nigeria and owners of properties within the Maitama district of Abuja, and that they must possess an affidavit of means.
Emefiele has also been asked to deposit his travel documents before the court. He is not permitted to leave the country without the permission of the court.
Anenih added that Emefiele should be remanded at Kuje Correctional Centre pending the fulfilment of his bail conditions.
The case has been adjourned to May 28 and 29 for commencement of trial.
The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.
In the charge sheet seen by TheCable, EFCC alleges that Emefiele “disobeyed the direction of law with intent to cause injury to the public” by approving the printing of naira notes without “strict approval” from former President Muhammadu Buhari and the CBN board.
Emefiele is alleged to have approved the printing of N684.5 million notes at the rate of N18.96 billion.
