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Court grants Emefiele bail in unlawful naira swap case


Court grants Emefiele bail in unlawful naira swap case

Former Central Bank Governor, Godwin Emefiele, was granted bail in the sum of N300 million by the Federal Capital Territory High Court in Maitama on Wednesday.

Justice Maryann Anenih presided over the ruling in favor of Emefiele’s bail application in response to a four-count amended charge brought by the EFCC, alleging disobedience to the law and involvement in unlawful actions related to the naira color swap.

As part of the bail conditions, Emefiele was required to provide two sureties with property in the Maitama district of Abuja valued at the same amount.

The sureties were mandated to present title documents, certificates of occupancy for verification, and submit recent passport photographs to the court registrar.

READ ALSO: Ex-CBN Gov. Emefiele pleads not guilty to N18.96 billion naira printing charge

Other conditions imposed on Emefiele included surrendering his traveling documents to the court registrar and remaining within Abuja throughout the trial period.

Justice Anenih referenced a previous bail granted to Emefiele by Justice Hamza Muazu, emphasising that bail decisions are solely at the discretion of the court based on presented circumstances.

Anenih highlighted that despite the seriousness of the offense, Emefiele was not deemed a flight risk, and there was no evidence to suggest he would evade the investigation or pose a danger to national security.

She noted that the offense carried a five-year imprisonment sentence but stated that denying Emefiele bail was not warranted in this case.

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