By Sabiu Abdullahi

A Federal Capital Territory High Court in Abuja has granted bail to the former Governor of the Central Bank of Nigeria, Godwin Emefiele, in the sum of N300 million.

This comes after his arraignment on charges related to the unlawful redesign of the naira notes. 

Emefiele pleaded not guilty to all four counts, which include approving the printing of N684.5 million and unlawfully withdrawing N124.8 billion from the Consolidated Revenue Fund of the Federation.

He also denied disobeying the direction of the law with the intent to cause injury to the public during his implementation of the naira swap policy. 

Justice Maryanne Anenih granted Emefiele bail, citing that “a defendant is entitled to bail and presumed innocent until proven otherwise.”

The bail conditions include two sureties, who must be responsible citizens and own property worth the bail sum within the FCT.

The sureties must also deposit two recent passport photos alongside their National Identity cards or international passports. 

Emefiele is prohibited from travelling outside the country without the permission of the court. The trial has been adjourned until May 28.

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