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Tuesday, June 18, 2024

Court grants Emefiele N50m bail

By News Desk

The Lagos High Court sitting in Ikeja has granted bail to a former Central Bank (CBN) governor, Godwin Emefiele, after pleading not guilty to the charges against him.

Justice Rahman Oshodi granted him bail in the sum of N50 million with two sureties in like sum.

The court, on Friday, also held that the sureties must be gainfully employed and have three years of tax payment with the Lagos State Government.

Oshodi 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, Henry Isioma-Omoil, who is standing trial on another charge before Justice Olufunke Sule-Hamzat of the Lagos High Court sitting in Yaba.

According to the court, the bail documents must be transferred to the special offences court and it must also be registered in the Lagos State Bail Management System.

Last week Monday, the Economic & Financial Crimes Commission (EFCC) charged Emefiele before the court on a 26-count bordering on alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion respectively.

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