Court Grants N300million Bail To Godwin Emefiele In Third Corruption Trial

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Godwin Emefiele Pleads Not Guilty to Allegations of Unlawful Currency Printing

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Former Governor of the Central Bank of Nigeria, Godwin Emefiele, has entered a plea of not guilty to charges of unlawfully printing N684 million in currency notes amounting to N18.96 billion during his tenure as the apex bank’s governor.

Emefiele, currently facing trial on multiple criminal charges, was arraigned for the third charge on Wednesday.

The Economic and Financial Crimes Commission (EFCC) alleges that Emefiele printed the said currency without authorization from former President Muhammadu Buhari, violating the law and causing injury to the public.

In the four-count charge read before Justice Maryann Anenih of the High Court of the Federal Capital Territory (FCT), Emefiele pleaded not guilty to all allegations.

His defense team, led by Mahmud Magaji, requested bail for Emefiele pending trial, emphasizing that the charges were bailable offenses. The court granted bail in the sum of N300 million, with two sureties in the same amount, who must be resident in Nigeria and own landed properties in the Maitama district of Abuja. Additionally, Emefiele was ordered to surrender his international passport and refrain from traveling without permission.

The trial is set to commence on May 28 and 29. Emefiele has faced multiple charges since his suspension by President Bola Tinubu on June 9, 2023, and subsequent arrest by the Department of State Services (DSS).


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