A High Court in Ikeja, Lagos, has granted bail to former Central Bank Governor Godwin Emefiele, setting the bail amount at N50 million.
The ruling by Judge Rahmon Oshodi on Friday saw Emefiele’s conditional release, contingent upon securing two sureties matching the bail sum.
Emefiele, facing a trial in Lagos on 26 counts of alleged abuse of office, had earlier pleaded not guilty to the charges brought against him by the Economic and Financial Crimes Commission (EFCC).
Despite being remanded in EFCC custody following his arraignment earlier in the week, Emefiele’s bail application was granted today.
While Emefiele’s lawyer advocated for bail conditions similar to those granted by another court, the EFCC lawyer did not oppose bail but urged the court to impose conditions ensuring the defendants’ presence for trial.
The charges against Emefiele and his co-defendants include accepting gratification, corruption, and conferring corrupt advantages, as outlined in the EFCC’s filing on April 3rd by Prosecutor Rotimi Oyedepo, SAN.
