NewsCourt Grants Emefiele N300 Million Bail Over Alleged Unlawful Redesign Of Naira...

Court Grants Emefiele N300 Million Bail Over Alleged Unlawful Redesign Of Naira Notes

spot_img

By Akinwale Kasali

Access Bank Advert

Justice Maryanne Anenih of the Federal High Court sitting in Abuja has granted former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, bail.

Emefiele was arraigned before the Court over alleged unlawful redesign of  Naira notes which led to crisis prior to the 2023 Presidential Election.

UBA

Justice Anenih stated that Emefiele was granted bail because there is a “cogent and compelling reason to grant the bail application.”

Recall that the ex-CBN Governor was accused of approving the printing of N684.5 million at the rate of N18.96 billion.

The anti-graft agency also said Emefiele unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

READ ALSO:  Kano: NMA Issues 48 Hour Ultimatum To Kano Govt To Sack Commissioner For Assault

The former apex bank chief was also said to have disobeyed the direction of 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.

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 pleaded not guilty to all four count charges read to him before Justice Maryanne Anenih.

However, Justice Anenih, on this note granted Emefiele bail with similar conditions as previously granted by Justice Hamza Muazu.

READ ALSO:  BREAKING: EFCC Arrests Okowa In PH, Detains Him

The Judge granted him bail in the sum of N300m and two sureties.

She held that the sureties must be responsible citizens and own property worth the bail sum within the FCT.

She also added that the property documents must be verified and deposited with the court registry pending the determination of the matter.


Discover more from The Source

Subscribe to get the latest posts sent to your email.

Share your story or advertise with us: WhatsApp: +2348174884527, Email: [email protected]

Your Comment Here

More articles

Discover more from The Source

Subscribe now to keep reading and get access to the full archive.

Continue reading