This follows a joint operation by the Malaysian Anti-Corruption Commission (MACC) and the Australian authorities over alleged discrepancy in the central bank to award the contract to an Australian firm.
The former assistant governor, Mohamad Daud Dol Main, 58, claimed trial to the two charges of accepting RM50,000 each.
He was arrested yesterday and brought to the Malaysian Anti-Corruption Commission headquarters.
The contract was to print RM5 polymer banknote by Note Printing Australia Ltd for BNM worth RM95 million.
It is learnt the Australian authorities are also charging a number of individuals related to the scandal today.
According to MACC, the Australian to be charged are Myles Curtis, John Leckenby, Mitchell Anderson, Peter Hutchinson, Barry Brady and Rognvald Mardrant.
This is the first time that Australian police are using the foreign bribery legislation introduced in 1999 to charge the accused.
Meanwhile, the middleman will face separate charges of offering him the bribe at the Shah Alam Sessions Court.
[More to come]