HomeLocal NewsCourt grants Emefiele N50m bail

Court grants Emefiele N50m bail


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An Ikeja Special Offences Court on Friday admitted the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to bail in the sum of N50 million.

Emefirle is charged with abuse of office and fraud  to the tune of 4.5 billion dollars  and N2.8 billion.

Justice Rahman Oshodi, in his ruling, admitted  Emefiele to bail with two sureties in like sum.

Also read: Court remands Emefiele in EFCC custody

Oshodi  held  that  the sureties must be gainfully employed and have three years tax payment with the Lagos State Government.

He also ordered that the sureties must show proper identification and they  must  be registered in the Lagos State Bail Management System.

The judge also  said  that  he was satisfied  with  the bail conditions of N1 million, earlier given  to  Emefiele’s co-defendant, Henry  Isioma-Omoil who is standing another charge beofre Justice Olufunke Sule-Hamzat  before a Yaba High Court.

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

The Economic And Financial Crimes Commission (EFCC) had on April 8 arraigned Emefiele on a 23-count charge bordering on abuse of office, accepting gratifications, corrupt demand, receiving property fraudulently obtained and conferring corrupt advantage, while  his co-defendant was arraigned on a three-count charge bordering on acceptance of gift by agents.

The defendants, however, pleaded not guilty to the charge.

The News Agency of Nigeria (NAN) reports that at the time of filing this  story, the counsel were making applications for accelerated hearing and trial.



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