A former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele on Wednesday was arraigned on fresh charges at the Federal Capital Territory High Court in Maitama, Abuja.
The four-count charge preferred against the Ex-CBN governor borders on illegal printing of naira and unlawful withdrawal of funds from the consolidated revenue account.
According to the EFCC, the former CBN governor was alleged to have, without the approval of the president, fraudulently directed the printing of N684m notes with N18.96bn against the CBN Act.
At Thursday’s proceedings, the former CBN governor pleaded not guilty to the charge and prayed the court for bail.
Emefiele’s counsel, Mahmoud Magaji (SAN) in the bail application prayed to the court for his client to be granted bail on self-recognition or granted bail in the same term as granted by a sister court presided over by Justice Hamza Mauzu where the Ex-CBN governor is also standing trial on a criminal charge.
EFCC counsel, Rotimi Oyedipo (SAN), did not oppose the bail application but demanded the defendant’s lawyer amend certain paragraphs of his motion for bail which the senior lawyer agreed to amend.
Justice Mariam Anenih consequently admitted Emefiele to bail in the sum of N300 Million.
“I am of the view that cogent reasons are advanced for the defendant to be admitted to bail, and accordingly granted the application,” the judge said.
The bond is to include two sureties who must be holders of landed property within Maitama and the original document is to be submitted to the court.
The court added that the defendant must not travel outside the country without obtaining the leaves of the court.
Meanwhile the matter has been adjourned to May 28 and 29 for hearing.
