An FCT High Court in the Maitama area of Abuja has granted bail to the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in the sum of N300 million. Presiding judge Justice Maryann Anenih ruled on Wednesday, May 15, 2024, on his bail application regarding an alleged unlawful naira color swap.
The Economic and Financial Crimes Commission (EFCC) had brought a four-count amended charge against him for disobedience to the law. Justice Anenih also mandated two sureties in the same sum of N300 million, requiring them to possess property in Maitama and present title documents and certificates of occupancy (CofO) for verification. Recent passport photographs were also requested from the sureties.
Furthermore, Emefiele was directed to submit his travel documents to the court registrar and remain in Abuja throughout his trial. The judge also ordered the Certified True Copy (CTC) from Justice Hamza Muazu, who had previously granted him bail under similar conditions.
Justice Muazu emphasized that bail is at the discretion of the court and must align with the law. He highlighted that the offence carries a potential punishment of five years imprisonment but found no evidence indicating Emefiele’s intention to abscond, interfere with investigations, or threaten national security.
