Court grants Emefiele N300m bail, orders CBN to update CSO on e-Naira

Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court, yesterday, admitted former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, to a N300 million, with two sureties in like sum.

Besides the banker depositing his travel documents, the two sureties must be owners of landed property in Maitama, Abuja and deposit their certificates of occupancy.

The judge, however, ordered Emefiele’s remand at the Kuje Correctional Centre pending fulfillment of the bail conditions.

Consequently, he fixed November 28 for commencement of full trial.
At the last sitting on Friday, the CBN ex-boss had pleaded not guilty to a six-count amended N1.2 billion procurement charge brought against him by the Economic and Financial Crimes Commission (EFCC).

Also, a Federal High Court sitting in Abuja has mandated the apex bank to furnish Human and Environmental Development Agenda (HEDA Resource Centre) with pertinent information concerning the selection of Bitt Inc. as technical partner of its e-Naira scheme.

Justice Z.B. Abubakar gave the order, while ruling on Motion on Notice dated February 22, 2022 in suit number, FHC/ABJ/CS/1542/2021 between the Incorporated Trustees of HEDA Resource Centre and CBN.

The motion sought a mandamus order compelling the defendant to provide information outlined in the applicant’s request dated September 1, 2021.

The details sought by the civil society organisation (CSO) included evidence of newspaper advertisement calling for bidders, list of bidders and public opening of bids.

In response, CBN argued, citing Section 15(2) of the Public Procurement Act, that the bidding process did not require a newspaper advertisement.

It contended that divulging the requested information would be detrimental to Nigeria’s international affairs, economic interests and security, particularly regarding countries seeking to consult the apex on the implementation of the e-currency policy.

In its ruling, the court emphasised that CBN is a public institution or agency, as defined in Section 31 of the FoI Act, 2011, adding that pursuant to Section 4(a) and (b) of the law, the defendant was obligated to provide the particulars within seven days.