Ex-CBN Governor Emefiele granted bail with 5 conditions

Former Governor of the Central Bank of Nigeria, Godwin Emefiele, has been granted bail to the tune of N50 million.

Justice Rahman Oshodi of Ikeja Special Offences Court in his ruling on Friday, April 12, 2024, admitted Emefiele to N50 million bail with two sureties in like sum.

Emefiele is said to be facing a 26-count charge involving alleged abuse of office and fraud amounting to $4.5 billion and N2.8 billion.

The judge ordered that the sureties must be gainfully employed and must have made three years' worth of tax payments to the Lagos state government.

He also said the sureties must be appropriately identified and registered in the Lagos state bail management system.

Oshodi also expressed satisfaction with the N1 million bail condition earlier given to Emefiele’s co-defendant, Henry Isioma-Omoile who is facing another charge before Justice Olufunke Sule-Hamzat of Yaba High Court.

According to the judge, the bail documents should be transferred to a special offences court and registered in the Lagos State Bail Management System.

On Monday, April 8, 2024, the High court remanded the former CBN governor in the custody of the Economic and Financial Crimes Commission (EFCC), after the anti-graft agency arraigned him.

Emefiele and his co-defendants, Herry Omoile were remanded after they pleaded not guilty to the 26-count charge bordering on the abuse of office brought against them by the anti-graft agency.

However, this will be the second time the embattled former CBN governor has been granted bail.

Recall that the federal high court in Ikoyi, Lagos, granted Emefiele a N20 million bail, shortly after he was rearrested by the operatives of the Department of State Service (DSS) at the court premises.