UPDATE: Court Admits Ex-CBN Boss, Emefiele To N50m Bail

UPDATE: Court Admits Ex-CBN Boss, Emefiele To N50m Bail

by Victor Ndubuisi

On Friday, an Ikeja Special Offences Court granted N50 million in bail to Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN).

He faces allegations of fraud totaling N2.8 billion and $4.5 billion, respectively, and abuse of office.

In his decision, Judge Rahman Oshodi granted Emefiele bail along with two sureties in the same amount.

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

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In addition, he mandated that the sureties register in the Lagos State Bail Management System and provide valid identification.

Additionally, the judge expressed his satisfaction with the N1 million bail terms previously granted to Henry Isioma-Omoil, Emefiele’s co-defendant, who is standing another charge before Justice Olufunke Sule-Hamzat at a Yaba High Court.

But according to Oshodi, the bail paperwork needs to be recorded in the Lagos State Bail Management System and sent to the special crimes court.

According to Anaedoonline.ng, on April 8, Emefiele was arraigned by the Economic and Financial Crimes Commission (EFCC) on 23 counts related to abuse of office, accepting gratifications, corrupt demand, receiving property obtained fraudulently, and conferring corrupt advantage. Meanwhile, his co-defendant was arraigned on three counts related to accepting gift from agents.

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Nonetheless, the defendants entered a not guilty plea to the accusation.

According to Anaedoonline.ng, the attorneys were submitting applications for an expedited hearing and trial at the time this news was filed.



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