A Federal Capital Territory High Court in Abuja, on Wednesday, granted the immediate past Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, bail of N300 million, following his arraignment on the unlawful redesign of the naira notes.

Emefiele was accused of approving the printing of N684.5 million at the rate of N18.96 billion.

The anti-graft agency also said the embattled former governor unlawfully approved the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

The former apex bank chief was also said to have disobeyed the direction of law with intent to cause injury to the public during his implementation of the naira swap policy of the administration of former President, Muhammadu Buhari.

READ ALSO: Naira Printing: ‘I’m Not To EFCC’s Fresh Charge,’ Emefiele Pleads

EFCC, also claimed that Emefiele embarked on the naira redesign without the approval of the Board of the CBN as well as the then President, Buhari.

Emefiele refused any wrongdoing as he pled not guilty to all four count charges read to him by the prosecution, Economic and Financial Crimes Commission, before Justice Maryanne Anenih.

This arraignment makes it the third separate charge brought before Emefiele.

Emefiele’s counsel, Mahmud Magaji (SAN) moved for his client’s bail application, after the prosecution had finished reading out the charge.

READ ALSO: Man Sets Mosque, Worshippers Ablaze In Kano

He drew the attention of the court to an earlier bail granted by Justice Hamza Muazu, of the FCT High Court, Maitama.

Ruling in the bail application, Justice Anenih, held that “a defendant is entitled to bail and presumed innocent until proven otherwise”.

She also said there is “cogent and compelling reason to grant the bail application.”

Justice Anenih, on this note granted Emefiele bail with similar conditions as previously granted by Justice Hamza Muazu.

She granted him bail to the sum of N300m and two sureties.

She held that the sureties must be responsible citizens and own property worth the bail sum within the FCT.

READ ALSO: Ex-CBN Gov, Emefiele Faces Fresh Charge Over Printing Of Naira Emefiele

She added that the property documents must be verified and deposited with the court registry pending the determination of the matter.

While adopting the bail ruling of Justice Muazu, Justice Anenih held that the two sureties must deposit two recent passport photos alongside their National Identity cards or international passports.

She also held that the defendant is prohibited from travelling outside the country without the permission of the court.

She subsequently adjourned till May 28 for the commencement of trial.

Recall that Justice Muazu had granted Emefiele bail in the sum of N300 million with two sureties in like sum.

Today’s arraignment on the fresh charges brought before Emefiele was previously scheduled to be held on April 30.

The arraignment was, however, stalled due to the absence of the prosecution who had asked the court to fix another date for the arraignment as the previous date was no longer convenient.

Following his request, the matter was fixed for today, Wednesday, May 15.

The Rivers State Commissioner for Housing, Gift Worlu, has tendered his resignation from Governor Siminalayi Fubara’s administration.

His resignation was contained in a letter dated May 15 and directed to the governor, through the office of the secretary to the state government, Tammy Danagogo.

Worlu is the second commissioner to resign from the state cabinet today.

READ ALSO: JUST IN: Rivers Commissioner Mmom Resigns, Cites Toxicity In Fubara’s Cabinet

The Rivers State Commissioner for Education, Professor Chinedu Mmon, has resigned from the cabinet of Governor Siminalayi Fubara.

Mmon, a loyalist of the Minister of the Federal Capital Territory, Nyesom Wike, is the third reappointed Commissioner to tender his resignation.

Before Mmom, the former Attorney-General and Commissioner for Justice, Professor Zacchaeus Adangor, and former Commissioner for Finance, Isaac Kamalu, resigned their appointments a few weeks ago.

Both Adangor and Kamalu resigned after Fubara directed that they should be redeployed to the Ministry of Special Duties (Governor’s Office) and Ministry for Employment Generation and Empowerment, respectively.

READ ALSO: JUST IN: Wike’s Loyalist Rejects Fubara’s Redeployment, Resigns As Rivers Commissioner

The former Commissioner of Education, in a letter dated May 25, 2024, and addressed to the governor through the Secretary to the State Government said he was resigning because his current workspace had become toxic.

A copy of Prof Chinedu’s resignation letter.
The letter reads in part, “I write to formally tender my resignation as a member of the Rivers State Executive Council as the Honourable Commissioner for Education with effect from today, May 15, 2024.

“It is a truism that a calm and friendly environment would stimulate efficient service delivery and enhanced productivity. It is, however, unfortunate to note that my current workspace has become toxic and no longer guarantees a favorable environment to enable me to realize my set targets for the education sector in the state.

READ ALSO: BREAKING: Another Rivers Commissioner Resigns

“There is a loss of trust, animosity, and sharp division among colleagues in the same cabinet, which is unhealthy and very unfortunate.

“I want to thank Your Excellency for the opportunity to serve in your cabinet and wish you well in your administration.”

The commission, however, pleaded to his supporters and well-wishers to accept his decision to resign from the governor’s cabinet in good faith.

“My decision might not go down well with most of you, but it is best given the prevailing circumstances. Many thanks for your understanding,” he wrote on his Facebook.