COURT GRANTS EMEFIELE N50 MILLION BAIL

April 12, 2024April 12, 2024

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The embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has been granted N50 million bail for alleged abuse of office and fraud to the tune of $4.5 billion and N2.8 billion.

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

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According to Oshodi, the sureties had to have paid taxes to the Lagos State Government for three years and be employed for a profit.

In addition, he stated that the sureties needed to register with the Lagos State Bail Management System and provide a valid identity.

The court also expressed his satisfaction with the N1 million bail terms previously granted to Henry Isioma-Omoil, Emefiele’s co-defendant, who is currently facing a separate charge before Justice Olufunke Sule-Hamzat in 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.