Emefiele Pleads Not Guilty To Fresh Fraud Charge

Former governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has pleaded not guilty to the allegation of approving the printing of N684.5 million at the rate of N18.96 billion.

Emefiele pleaded not guilty during his arraignment yesterday by the Economic and Financial Crimes Commission (EFCC) on a four-count charge before Justice Maryann Anenih of the FCT High Court, Abuja.

In the charge before the court, the EFCC alleged that Emefiele 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.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Federation’s Consolidated Revenue Fund.

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

He added that Emefiele would always be present in court to face trial.

Justice Anenih subsequently granted him bail in the sum of N300 million, with two sureties in like sum, who must be residents of Nigeria and owners of properties in Maitama district.

The sureties must post an affidavit of means.

Emefiele must also deposit his travel documents before the court. He must also not travel outside the country without the permission of the court.

Justice Anenih added that he should be remanded at Kuje Correctional Center pending when he fulfills his bail conditions.

The case has been adjourned to May 28 and May 29, 2024, for commencement of trial.