Court Grants Emefiele N300M Bail In Currency Printing Case

The Economic and Financial Crimes Commission has arraigned the former Governor of the Central Bank of Nigeria, Godwin Emefiele, for printing Naira Notes at an allegedly high cost.

Mr Emefiele was arraigned before Justice MaryAnn Anenih of the FCT High Court, on a four-count charge for allegedly printing 648 million Naira, at the cost of 18.9 billion Naira

He pleaded not guilty to the charges

Moving his application for bail, his counsel, Mahmud Magaji asked the court to grant him bail on self-recognition and the same grounds and conditions of bail already granted him by a sister court led by Justice Hamza Muazu.

He adds that mister Emefiele will always be present in court to face trial.

Justice Anenih granted him bail for 300 million Naira, with two sureties in like sum, who must be residents of Nigeria and owners of properties in the Maitama district.

The sureties must post an affidavit of means.

Mr Emefiele must also deposit his travel documents before the court.

He shall also not travel outside the country without the permission of the court.

Mr Emefiele will be remanded at Kuje Correctional Center pending when he fulfils his bail conditions.

The case has been adjourned to the 28th and 29th of May, for commencement of trial.