Naira printing: Emefiele pleads not guilty, secures N300m bail

4 min read

The embattled former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, on Wednesday, pleaded not guilty to the allegation that he unlawfully printed Naira Notes while he held sway at the apex bank.

The Economic and Financial Crimes Commission, EFCC, alleged that Emefiele had without authorization from former President Muhammadu Buhari, printed N684million Notes with the total sum of N18.96billion.

Besides, the anti-graft agency accused the former CBN boss of unlawfully approving the withdrawal of about N124.8bn from the consolidated revenue fund.

According to the EFCC, the defendant, acting in violation of law and “with intent to cause injury to the public,” okayed the printing of naira notes without the approval of both former President Buhari and the board of the CBN.

However, when the four-count charge was read to the defendant before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory, FCT, he pleaded his innocence to the allegation.

While the prosecution counsel, Mr. Rotimi Oyedepo, SAN, requested for a date for the commencement of full hearing in the matter, the defendant, through his team of lawyers led by Mr. Mahmud Magaji, prayed the court to allow him to go home on bail, pending the determination of the case against him.

Magaji, SAN, urged the court to either grant his client bail on self recognition, or to adopt previous conditions that were handed to him by Justice Hamza Muazu, who is presiding over another charge that is pending against him before the same high court.

See also  NYSC: Don’t let our children die in kidnappers den, parents beg govt

He assured that his client would always be available to attend his trial, noting that the charge contained bailable offences.

In her ruling, Justice Anenih said she was minded to accede to the defendant’s request for bail.

Consequently, she granted him bail to the tune of N300m, with two sureties in the like sum.

The court maintained that the sureties must not only be resident in Nigeria, but owners of landed properties within the Maitama district of Abuja.

More so, the court stressed that the sureties must deposit an affidavit of means, even as it ordered the defendant to surrender his international passport.

The court warned that the former CBN Governor must not travel out of the country without permission.

It held that he should be remanded at Kuje prison, pending the perfection of all the bail conditions.

The court maintained that the sureties must not only be resident in Nigeria, but owners of landed properties within the Maitama district of Abuja.

More so, the court stressed that the sureties must deposit an affidavit of means, even as it ordered the defendant to surrender his international passport.

The court warned that the former CBN Governor must not travel out of the country without permission.

It held that he should be remanded at Kuje prison, pending the perfection of all the bail conditions.

It will be recalled that President Bola Tinubu had on June 9, 2023, suspended Emefiele from office as the head of the apex bank.

He was later arrested at his Lagos residence by DSS operatives.

See also  UI students commence fresh protest over fee hike

The former CBN boss was subsequently transferred to the custody of the EFCC, which on November 28, 2023, docked him on a six-count charge that bordered on his alleged involvement in procurement fraud.

Though Emefiele, who initially spent 151 days in custody of security agencies, was later granted bail to the tune of N300million and ordered to produce two sureties that the trial court stressed must be Abuja residents that have landed property within the Maitama District, the defendant could not perfect the conditions till December 23, 2023, when he was released from Kuje prison where he spent about 34 days.

The defendant had since then, faced various charges, both in Abuja and Lagos.

YOU MIGHT ALSO LIKE
asisat-oshoala-launches-football-academy-in-lagos

Asisat Oshoala, four-time African Footballer of the Year and FC Barcelona Femení star, has announced the launch of the ‘Asisat Read more

Stronger cooperation, partnership, pathways to better world, Tinubu tells G20 leaders
"How to Apply for Tinubu's Student Loan"

President Bola Tinubu observed on Saturday in New Delhi, India, that stronger collaboration, cooperation, and partnerships among diverse regions are Read more

Tinubu orders take-off of Student Loan Scheme September 2023
"How to Apply for Tinubu's Student Loan"

President Ahmed Bola Tinubu has approved the constitution of an inter-ministerial committee to ensure the seamless take-off of the Student Read more

Great loss to Ibadan Oyelade’s death,
high-chief-lateef-oyelades-death

The Agbaofin of Ibadanland, Chief Bolaji Ayorinde, has described the death of Ekefa Olubadan, Senior Chief Lateef Oyelade, as a Read more

You May Also Like

More From Author

+ There are no comments

Add yours