BREAKING: Court admits Emefiele to N50m bail

An Ikeja Special Offences Court, on Friday, admitted the embattled Godwin Emefiele, a former Governor of the Central Bank of Nigeria (CBN), to bail in the sum of N50 million.

The ex-Apex Bank boss is charged with abuse of office and fraud to the tune of 4.5 billion dollars and N2.8 billion.

Justice Rahman Oshodi, in his ruling, admitted him to bail with two sureties in like sum.

Oshodi stated that the sureties must be gainfully employed and have three years of tax payment with the Lagos State Government.

He also directed that the sureties must demonstrate proper identification, and they must be registered in the Lagos State Bail Management System.

Oshodi 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 another charge before Justice Olufunke Sule-Hamzat before a Yaba High Court.

However, the judge said that the bail documents must be sent to the special offenses court, and they must also be registered in the Lagos State Bail Management System.

The Economic And Financial Crimes Commission (EFCC) had on April 8 arraigned the ex-CBN boss on a 23-count charge bordering on abuse of office, accepting gratifications, corrupt demand, receiving property fraudulently obtained, and conferring corrupt advantage, while his co-defendant was arraigned on a three-count charge bordering on acceptance of gift by agents.

He and his co-defendant, however, pleaded not guilty to the charge.