Court grants Emefiele N50m bail
A high court session held in Ikeja, Lagos, has approved bail for the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in the sum of N50 million.
The judge, Rahmon Oshodi, announced the decision on the bail application on Friday, April 12, stipulating that Emefiele must provide two sureties who each can meet the same bail amount. Furthermore, Oshodi mandated that the sureties must be gainfully employed individuals who have paid their taxes to the Lagos State government for the past three years. Additionally, they must provide proper identification and be registered in the Lagos State Bail Management System.
Emefiele is currently facing trial in Lagos on a 26-count charge related to abuse of office. He pleaded not guilty to the charges brought against him by the Economic Financial Crimes Commission (EFCC).
Previously, on Monday, April 8, the Lagos State Special Offences Court in Ikeja remanded Emefiele in the custody of the EFCC following his arraignment alongside his co-defendant, Herry Omoile. Both pleaded not guilty to the 26-count charge of abuse of office brought against them by the EFCC.
Emefiele had remained in custody until the bail was granted on Friday, April 12. However, the judge ordered Omoile to be remanded in the custody of the Nigerian Correctional Services.
