Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), faces significant confinement in the prison as a Federal High Court in Abuja ordered his remand to Kuje Correctional facility.
This remand was pending a ruling on his bail application amid a six-count amended charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Initially arraigned before Justice Hamza Muazu, Emefiele’s legal counsel, Mathew Burkaa, SAN, moved an application for his bail.
However, the EFCC counsel, Rotimi Oyedepo, representing the Federal Government, opposed the bail request.
Upon hearing the arguments presented, Justice Muazu opted for time to examine the exhibits furnished by Emefiele in support of his bail application.
Consequently, the case was adjourned until November 22, 2023.
Emefiele’s legal ordeal commenced when President Bola Tinubu suspended him on June 9, 2023, initiating an investigation into the activities of the apex bank during his tenure.
Subsequently, a Special Investigator was appointed by Tinubu to probe the CBN.
During this investigative period, the apex bank disclosed its audited financial statement, revealing a combined debt of $7.5 billion owed to JP Morgan and Goldman Sachs as of the financial year ending December 2022.
Following a prolonged period in the custody of the Department of State Services (DSS), Emefiele was transferred to the EFCC, which arraigned him in court and eventually granted him bail.
