BREAKING: Court Grants Emefiele N50m bail



Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been granted bail by Justice Rahman Oshodi of the Lagos Special Offences Court on Thursday.

The bail, set at N50 million, comes in the wake of allegations including abuse of office and fraud totaling $4.5 billion and N2.8 billion.

During the ruling on the bail application, Justice Oshodi required two sureties in the same sum of N50 million.

The bail conditions demanded that the sureties be employed with evidence of tax payments to the Lagos State Government for the past three years, proper identification, and registration in the Lagos State Bail Management System.

Recall that Emefiele, along with his co-defendant Henry Isioma Omoile, faced a 23-count charge from the Economic and Financial Crimes Commission (EFCC).

The former CBN boss faced charges ranging from abuse of office to corrupt demands and receiving property fraudulently obtained. Omoile, on the other hand, was arraigned on a three-count charge related to accepting gifts as an agent.

The judge also addressed Omoile’s previous bail conditions, set at N1 million by Justice Olufunke Sule-Hamzat of a Lagos High Court.

Justice Oshodi further directed the defendants’ counsel to transfer the bail documents to the Special Offences Court and register them in the Lagos State Bail Management System.

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