Ex-CBN governor Emefiele gets another bail with 5 conditions

Justice Rahman Oshodi of Ikeja Special Offences Court granted embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, N50m bail on Friday, April 12.

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

According to Vanguard, Justice Oshodi, in his ruling, admitted Emefiele to N50 million bail with two sureties in like sum.

N50m, other bail conditions for Emefiele

Oshodi 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.

The judge said he was satisfied with the N1 million bail condition earlier given to Emefiele's co-defendant, Henry Isioma-Omoil.

He is facing another charge before Justice Olufunke Sule-Hamzat of Yaba High Court.

Oshodi, however, said the bail documents must be transferred to a special offences court and registered in the Lagos State Bail Management System.

Number of times Emefiele got bail

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

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

This will be the second time the embattled former CBN governor has been granted bail.

The first was when the federal high court in Ikoyi, Lagos, granted him N20 million bail, but he was rearrested by the operatives of the Department of State Service (DSS) at the court premises.