Court Grants Emefiele Bail

By Akinwale Kasali

Embattled  former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has been granted bail in the sum of N50m by Justice Rahmon Oshodi of the High Court in Lagos.

In his ruling on the bail application, Justice Oshodi admitted Emefiele on bail with two sureties in like sum.

The former Chief of the Apex Bank is facing trial in Lagos on a 26-count charge bordering on abuse of office.

He had earlier pleaded not guilty to a 26-count charge bordering on abuse of office brought against him by the Economic Financial Crimes Commission, EFCC.

The Lagos State Special Offences Court sitting in Ikeja on Monday remanded the former Governor of the CBN in the custody of the EFCC, following his arraignment.

Justice Oshodi made the remand order after Emefiele and his co-defendants, Henry Omoile, pleaded not guilty to a 26-count charge bordering on abuse of office brought against them by the EFCC.

Emefiele had remained behind bars until today, Friday when the Judge granted his bail application.

Before the Court’s ruling, Emefiele’s lawyer Abdulakeem Ladi-Lawal had urged the court to admit his client to bail on self-recognition or, in the most liberal terms.

The lawyer particularly urged the court to impose the same bail conditions earlier granted to the defendant by Justice Hamzat Muazu of the Federal Capital Territory High Court in Abuja and that he be released to his lawyers pending the perfection of the bail terms.

The EFCC lawyer, Rotimi Oyedepo, SAN, did not oppose the bail application but urged the judge to impose conditions that would compel the defendants to Court for their trial.