Suspended CBN Governor, Godwin Emefiele, Granted N50 Million Bail

In a session held on Friday, April 12, the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, was granted bail in the sum of N50 million by the Ikeja Special Offences Court.

Emefiele is facing charges of abuse of office and fraud amounting to 4.5 billion dollars and N2.8 billion.

Justice Rahman Oshodi presided over the case and ruled that Emefiele be granted bail with two sureties each in the same amount. The sureties must be gainfully employed individuals with a minimum of three years’ tax payment records to the Lagos State Government.

Additionally, the sureties must provide proper identification and be registered in the Lagos State Bail Management System.

Furthermore, Justice Oshodi approved the bail conditions of N1 million earlier granted to Emefiele’s co-defendant, Henry Isioma-Omoil, who is facing separate charges before Justice Olufunke Sule-Hamzat at the Yaba High Court.

However, Justice Oshodi mandated that the bail documents be transferred to the Special Offences Court and registered in the Lagos State Bail Management System.

The Economic And Financial Crimes Commission (EFCC) had arraigned Emefiele on April 8 on a 23-count charge, including abuse of office, accepting gratifications, and corrupt practices. Emefiele’s co-defendant was arraigned on a three-count charge related to accepting gifts by agents.

Both defendants have pleaded not guilty to the charges.