Former CBN Gov. Godwin Emefiele Granted Bail in Lagos Court

Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been granted bail in the sum of N50 million by a high court in Ikeja, Lagos.

The decision came from Judge Rahmon Oshodi on Friday, contingent upon two sureties providing equivalent collateral.

Emefiele, who is facing a 26-count charge related to official misconduct, had entered a plea of not guilty to the allegations brought against him by the Economic and Financial Crimes Commission (EFCC).

Initially remanded by the Lagos State Special Offenses Court in Ikeja on Monday, Emefiele’s plea for bail was granted by Judge Oshodi after days in custody.

However, his co-defendant, Herry Omoile, was remanded in the care of the Nigerian Correctional Services by the judge.

Emefiele’s defense attorney, Abdulakeem Ladi-Lawal, urged the court to consider lenient bail terms, suggesting the same conditions as previously set. Meanwhile, EFCC Prosecutor Rotimi Oyedepo, SAN, encouraged the court to impose conditions ensuring the defendants’ appearance for trial.

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The charges against Emefiele and Omoile include corruption, accepting gifts through agents, receiving gratification, and forging fake property receipts, with the EFCC alleging Emefiele also gave corrupt benefits to accomplices.

The case has drawn significant attention, given Emefiele’s prominence in Nigeria’s financial sector and the gravity of the charges against him.