A Federal Capital Territory, FCT, High Court sitting in Maitama has granted former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, a N300 million bail following his arraignment on a four-count charge bordering on printing new Naira notes without observing due process.

It was earlier reported that Emefiele pleaded not guilty when the charge brought against him by the Economic and Financial Crimes Commission, EFCC, was read.

Other conditions attached to the bail include that he should produce two sureties who must each possess titled property within the Maitama area of the FCT.


Justice Anenih ordered the defendant to deposit his travel documents with the court, adding that he should not travel outside the country without the permission of the court.

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The judge adopted the conditions attached to a similar bail earlier granted Emefiele by Justice Hamza Muazu (another judge of the FCT High Court), before whom he is being tried on another criminal case.

According to the judge, it would suffice if Emefiele was able to produce the certified true copies (CTCs) of the documents he submitted in fulfillment of the bail earlier granted by Justice Muazu.

She adjourned till May 28 for the commencement of trial.