The Lagos High Court sitting in Ikeja has granted bail to former Central Bank (CBN) governor Godwin Emefiele. Justice Rahman Oshodi issued the bail, setting it at N50 million with two sureties in like sum.
Additionally, the court stipulated that the sureties must be employed and have a record of three years of tax payment to the Lagos State Government. Justice Oshodi emphasized the necessity for proper identification and registration in the Lagos State Bail Management System for the sureties.
The judge expressed satisfaction with the bail conditions of N1 million previously granted to Emefiele’s co-defendant, Henry Isioma-Omoil, who faces a separate trial before Justice Olufunke Sule-Hamzat of the Lagos High Court sitting in Yaba.
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According to the court’s directive, the bail documents must be transferred to the special offences court and registered in the Lagos State Bail Management System.
On April 8, the Economic and Financial Crimes Commission (EFCC) brought charges against Emefiele before the court. The charges include 26 counts related to alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion, respectively.