A Federal Capital Territory (FCT) High Court in Abuja, yesterday, granted the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, bail in the sum of N300 million, following his arraignment on the unlawful redesign of the naira notes.
Recall that Emefiele was accused of approving the printing of N684.5 million at the rate of N18.96 billion.
The anti-graft agency also said the embattled former governor unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
The former apex bank chief was also said to have disobeyed the law, with intent to cause injury to the public during his implementation of the Naira-swap policy of the administration of former President, Muhammadu Buhari.
The EFCC also claimed that Emefiele embarked on the Naira redesign without the approval of the Board of the CBN as well as the then President, Buhari.
Emefiele refused any wrongdoing, as he pledaded ‘not guilty’ to all four count charges read to him by the prosecution, Economic and Financial Crimes Commission, before Justice Maryanne Anenih.
This arraignment makes it the third separate charge brought before Emefiele.
Emefieles counsel, Mahmud Magaji (SAN) moved for his clients bail application, after the prosecution had finished reading out the charge. He drew the attention of the court to an earlier bail granted by Justice Hamza Mu’azu, of the FCT High Court, Maitama.
Ruling in the bail application, Justice Anenih, held that a defendant is entitled to bail, and presumed innocent until proven otherwise. She also said there is cogent and compelling reason to grant the bail application.
Justice Anenih, on this note, granted Emefiele bail with similar conditions as previously granted by Justice Hamza Mu’azu, and granted him bail to the sum of N300 million and two sureties.
She held that the sureties must be responsible citizens and own property worth the bail-sum within the FCT, but stated that the property documents must be verified and deposited with the court registry pending the determination of the matter.
While adopting the bail ruling of Justice Mu’azu, Justice Anenih held that the two sureties must deposit two recent passport photos alongside their National Identity cards or international passports.
The presiding judge also held that the defendant is prohibited from travelling outside the country without the permission of the court, and subsequently adjourned till May 28 for the commencement of trial.
Recall that Justice Mu’azu had granted Emefiele bail in the sum of N300 million with two sureties in like sum.
Todays arraignment on the fresh charges brought before Emefiele was previously scheduled to be held on April 30. The arraignment was, however, stalled due to the absence of the prosecution, who had asked the court to fix another date for the arraignment on the grounds that the previous date was no longer convenient.
Following his request, the matter was fixed for yesterday, Wednesday.
