The immediate past governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday pleaded not guilty before the Federal High Court, Lagos, to a charge of illegal possession of firearms brought against him by the Ministry of Justice.

He was arraigned on a two-count charge bordering on unlicensed possession of firearms.

In the first count, Emefiele was accused of possessing a single-barrel shotgun (Jojef Magnum 8371) without a license, which is contrary to Section 4 of the Firearms Act and punishable under Section 27 (1b) of the same Act.

In the second count, the suspended CBN governor is accused of having in his possession 123 rounds of live ammunition (cartridges) without a license, which is contrary to Section 8 of the Firearms Act and punishable under Section 27 (1)(b)(il) of the same Act.

The former CBN governor was arrested on June 10 after he was suspended by President Bola Tinubu.