Breaking News: Court Grants Emefiele N50m Bail

How DSS Should Handle Emefiele's Investigation - Falana

Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), who is currently under suspension, was granted N50 million in bail by an Ikeja Special Offenses Court on Friday.

Emefiele faces accusations of fraud of N2.8 billion and 4.5 billion, as well as abuse of office. In his decision, Judge Rahman Oshodi granted Emefiele bail along with two sureties in the same amount.

According to Oshodi’s ruling, the sureties had to have paid taxes to the Lagos State Government for three years and be working for a profit. In addition, he mandated that the sureties register in the Lagos State Bail Management System and provide valid identification.

Additionally, the judge expressed his satisfaction with the N1 million bail terms previously granted to Henry, Emefiele’s co-defendant, Henry Isioma-Omoil who is standing another charge before 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.

At the time of filing this story, the counsel was making applications for accelerated hearing and trial.

Details shorty…….

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