Lagos special offences court grants Emefiele N50m bail over alleged abuse of office
Lagos state Special Offences Court sitting in Ikeja on Friday has granted N 50 million bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
He was arraigned on Monday for alleged abuse of office and fraud amounting to $4.5 billion and N2.8 billion.
The defendant, standing trial along with one Henry Isioma-Omole had pleaded not guilty to the 26-count charge, after which they applied for bail on liberal terms.
Justice Rahman Oshodi, in his ruling, admitted Mr Emefiele to N50 million bail with two sureties in like sum.
Justice Oshodi held that the sureties must be gainfully employed and have three years tax payment with the Lagos State Government.
He also said that the sureties must show proper identification and they must be registered in the Lagos State Bail Management System.
The judge also said that he was satisfied with the bail conditions of N1 million, earlier given to Emefiele’s co-defendant who is standing another charge before Justice Olufunke Sule-Hamzat before a Yaba High Court.
Justice Oshodi, however, said the bail documents must be transferred to the special offences court and it must also be registered in the Lagos State Bail Management System.
Recall Emefiele alongside his co-defendant, one Henry Isioma Omole, were arraigned on fresh 26-counts before Justice Rahman Oshodi.
EFCC had alleged in the charge, marked ID/23787c/2024, dated April 3, 2024 that Mr Emefiele committed abuse of office between 2022 and 2023, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”
