Emefiele Granted N20m Bail; Court Accuses FG Of Lies

By Gideon Njoku

Embattled suspended Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has been granted bail by a Federal High Court in Lagos.

Emefiele was arraigned before the Honourable Justice Nicholas Oweibo on Tuesday, July 25, 2023. The Judge granted him bail in the sum of N20m and one surety in like sum.

His Lawyer, Joseph Dauda, SAN, in arguing the bail application, said that his client has met all the conditions for bail hearing, and was not a flight risk. He pleaded that the persecution of his client be stopped.

The prosecution Lawyer, a Deputy Director from the Ministry of Justice, had argued against the hearing of the bail application, and insisted that she had not seen the application.

But the Judge put a lie to her claims and said the application, received and endorsed by the office of the Attorney General of the Federation was in the Court’s file. He, equally, rejected Government’s claim that Emefiele is a flight risk, and asked for proof.

He, therefore, granted the suspended CBN boss bail to the tune of N20m and one Surety in like sum.

Emefiele is being prosecuted in Court by the Federal Government on a two-count charge of being in possession of a single barrel shot gun (JOJEFF MAGNUM 8371) without a license on June 15, 2023.

The alleged offence, the Government said, is contrary to Section 4 of the Firearms Act 2004 and punishable under Section 27 (1b) of the same Act.

He is also being charged for being in possession of 123 rounds of live ammunition, contrary to Section 8 of the firearms Act 2004 and punishable under Section 27(1)(b)(il) of the same act.

Emefiele pleaded not guilty to both charges.

He was brought to Court in a Toyota Hilux van by officials of the Department of State Services, DSS. Casually dressed, Emefiele looked healthy but withdrawn.

Emefiele, 61, appointed CBN Governor on June 4, 2014 by the President Goodluck Jonathan Administration, served throughout the immediate past Administration of President Muhammadu Buhari, was suspended from office on June 9. 2023, by the President Bola Tinubu Administration.  Emefiele, along with Tinubu, had aspired to the office of the President while still the CBN Governor under the ruling All ProgressivesCongress,  APC. He dropped out of the race before the Primaries

Emefiele arrested by the DSS immediately after his suspension from office, and has been in the Service’s custody since then.

It is to be seen if he would be released from custody or slammed with other charges.

While in Paris, France, on his first official visit outside Nigeria as President, Tinubu had publicly accused Emefiele, before the Nigerian Community, of messing up the CBN.