![Emefiele Pleads Not Guilty to Allegations of Unlawful Naira Printing](https://i0.wp.com/africannewstoday.com/wp-content/uploads/2024/05/Godwin-Emefiele-Court.jpg?fit=750%2C469&ssl=1)
The former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, found himself at the center of controversy as he appeared in court on Wednesday to face allegations of unlawfully printing Naira notes during his tenure.
The Economic and Financial Crimes Commission (EFCC) accused Emefiele of printing N684 million Naira notes without authorization from former President Muhammadu Buhari, amounting to a total sum of N18.96 billion. Additionally, the EFCC alleged that Emefiele unlawfully approved the withdrawal of approximately N124.8 billion from the consolidated revenue fund.
Emefiele, however, vehemently denied these accusations when the four-count charge was read to him before trial Justice Maryann Anenih of the High Court of the Federal Capital Territory (FCT). His legal team, led by Mr. Mahmud Magaji, pleaded his innocence to the charges.
See Also: Emefiele: Court Gives DSS 7 Days to Either Charge or Release Him
During the proceedings, prosecution counsel Mr. Rotimi Oyedepo, SAN, requested a date for the commencement of full hearing, while Emefiele’s defense team urged the court to grant him bail pending the determination of the case. Magaji, SAN, proposed bail on self-recognition or the adoption of previous bail conditions set by Justice Hamza Muazu, who presides over another pending charge against Emefiele.
Considering the arguments, Justice Anenih granted Emefiele bail in the sum of N300 million, with two sureties in the same amount. She emphasized that the decision was made in accordance with the request from the defendant’s legal team and the nature of the charges, which she deemed bailable.
Emefiele’s legal team assured the court that their client would comply with all trial proceedings.
Source: VanguardNGR