Court grants Emefiele N50m bail

Court grants Emefiele N50m bail

A High Court in Ikeja, Lagos, has granted former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail in the sum of N50 million.

In his ruling on the bail application on Friday, April 12, Justice Rahmon Oshodi admitted Emefiele on bail with two sureties in the same amount.

Oshodi maintained that the guarantors should be gainfully employed and have paid the three years’ tax to the Lagos State government. He further ordered sureties to present proper identification and be registered with the Lagos State Bail Management System.

Recall that Emefiele is facing trial in Lagos on a 26-count indictment that borders on abuse of power.

Emefiele had earlier pleaded not guilty to a 26-count indictment bordering on abuse of power brought against him by the Economic Financial Crimes Commission, EFCC.

The Lagos State Special Offenses Court sitting in Ikeja on Monday, April 8, remanded the former CBN governor into EFCC custody following his indictment.

Justice Rahman Oshodi issued the remand order after Emefiele and his co-defendants, Herry Omoile, pleaded not guilty to a 26-count indictment bordering on abuse of power brought against them by the EFCC.

Emefiele remained behind bars until today, Friday, April 12, when the judge granted his bail request.

The judge remanded Omoile to the custody of the Nigerian Correctional Services.

Source: www.lindaikejisblog.com

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