Naira Swap: Emefiele Gets N300m Bail, Maintains Innocence

An FCT high court in Maitama on Wednesday admitted the embattled former Central Bank Governor, Godwin Emefiele to bail in the sum of N300 million over his role in the botched naira swap exercise of the bank.

Justice Maryann Anenih granted him to bail while ruling on his bail application over alleged unlawful naira colour swap.

The Economic and Financial Crimes Commission brought against him a-four – count amended charge bordering on disobedience to direction of the law

Anenih in addition, ordered for two sureties in the like sum of the N300 million who must have property in Maitama district of Abuja.

The sureties , she said, must in addition present the title documents and certificates of occupancy (C of O) to the court for verification.

The sureties in addition must submit to the Registrar of the court their recent passport photographs.

The judge further added that Emefiele should submit to the registrar of the court his travelling documents and must be within Abuja within the period of his trial.

The judge ordered that the certified true copy (CTC) from Justice Hamza Muazu’s who granted him bail in the same conditions.

He earlier held that bail is at the discretion of the court according to what was placed before it, however, according to the law.

He added that the offence which of a- six count of confinement of advantage on self attracted 5 year imprisonment as punishment.

He held that there was nothing in the prosecution’s submission that showed that Emefiele would abscond or would jeopardise investigation or threaten the security of the country if given bail over his role in the naira swap policy of the Muhammadu Buhari government. (NAN)

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