By Uche Amunike
A Federal Capital Territory High Court in Abuja, Wednesday, granted the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail of N300 million, sequel to his arraignment on the unlawful design of the Naira notes.
Recall that Emefiele was accused of giving the go ahead for the printing of N684.5 million at the rate of N18.96 billion. He was also accused by the EFCC, of approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.
Aside from that, he was said to have disobeyed the direction of law with the purpose of causing injury to the public during his implementation of the naira swap policy of the administration of former President of Nigeria, Muhammadu Buhari.
According to the EFCC, Godwin Emefiele did not get the approval of the board of the Central Bank of Nigeria and the former president, Muhammadu Buhari, before embarking on the redesign of the Naira.
Emefiele, however, during the arraignment, which is the third separate charge brought before Emefiele, he refused to plead guilty to all four count charges read to him by the prosecution of the EFCC, before Justice Maryanne Anenih.
His counsel, Mahmud Magaji (SAN), moved for his bail application after the presentation finished reading out the charge. He brought the attention of the court to an earlier bail granted by Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court in Maitama, Abuja. During the ruling of the bail application, Justice Anenih held, that ‘a defendant is entitled to bail and presumed innocent until proven otherwise’. She also added that there is ‘cogent and compelling reason to grant the bail application.’
She therefore granted, Godwin Emefiele bail with similar conditions as previously granted by Justice Hamza Muazu. She granted him bill to the sum of N300 million and two sureties, holding that the sureties must be responsible citizens and own property worth the bail sum, within the FCT.
She also stated that the property documents must be verified and deposited with the court registry, pending the determination of the matter.
While Anenih adopted Justice Muazu’s bail ruling, she held that the two sureties must deposit two recent passport photos alongside their National Identity Cards or International Passports.
She further held that the former CBN governor is banned from traveling outside the country without first obtaining the permission of the court. Subsequently, she adjourned the case till May 28 for the commencement of trial.
Recall that Justice Muazu already granted Emefiele bail in the sum of N300 million with two sureties in like sum. The current arraignment on the fresh charges brought before the former CBN Governor, was previously scheduled to be held on April 30.
However, the arraignment was delayed as a result of the absence of the prosecution, who had demanded that the court should fix another date for the arraignment as the previous date was no longer convenient.
