BREAKING: After Denying Unlawful Naira Printing As CBN Governor, Emefiele Gets N300 Million Bail

BREAKING: After Denying Unlawful Naira Printing As CBN Governor, Emefiele Gets N300 Million Bail—-The suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted another N300 million bail in the Nigerian government’s charge bordering on unlawful printing of naira notes.

He also pleaded not guilty to the charge before the Federal Capital Territory (FCT) High Court, Maitama, Abuja, on Wednesday.

The Economic and Financial Crimes Commission (EFCC) arraigned Emefiele before Justice Maryanne Anenih of the court in a suit marked CR/264/2024.

In the charge sheet filed by the EFCC before Justice Anenih, the former apex bank chief was accused of knowingly violating the provisions of Section 19 of the CBN Act 2007 by approving the printing of N375.520 million pieces of colour-swapped N1,000 notes at the total cost of N11.052 billion without the recommendation of the Board of the CBN and the strict approval of the President of the Federal Republic of Nigeria.

When the charges were read to him by the court’s registrar, Emefiele pleaded not guilty to all of them, denying all the allegations contained in the charge.

What transpired in court

Emefiele’s lawyer, Mahmud Magaji (SAN), then asked the court to grant his client bail on self-recognizance pending the determination of the case.

The senior lawyer equally asked the court to grant his client the bail terms already granted him by another judge in the same FCT High Court, noting that the allegations are bailable offenses.

He added that Emefiele has dutifully attended court proceedings in different criminal matters instituted against him by the Federal Government.

EFCC lawyer, Rotimi Oyedepo (SAN), said he will not oppose the defendant’s bail application but on the condition that he deletes certain offensive claims in the bail application.

“It is more or less casting aspersion on the government,” Oyedepo added.

He urged the court to impose bail conditions that will ensure Emefiele attends court proceedings till the conclusion of the case.

Emefiele’s lawyer agreed with Oyedepo’s request while orally adopting his bail application and urging the court to grant the same.