By Abiola Olawale
A Federal High Court sitting in Ikeja, Lagos State, has granted bail to the embattled former Governor of Central Bank of Nigeria (CBN) Godwin Emefiele.
The presiding judge, Justice Rahmon Oshodi held that the embattled former governor of CBN, be granted bail in the sum of N50m after being charged with a 26-count bordering on alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion respectively.
Emefiele was admitted to bail with two sureties in like sum during court proceedings on Friday. Justice Oshodi also added that the sureties must be gainfully employed and must have made three years of tax payment with the Lagos State Government.
The New Diplomat reports that the ruling came after Emefiele’s counsel, Barrister A. Labi-Lawal, had urged the court to grant the defendant bail on self-recognition and liberal terms pending the determination on the case.
Labi-Lawal, in his 31 affidavits, said the first defendant (Emefiele) had complied with the bail application which was given to him by Justice Muazu in his alleged fraud trial case going on in Abuja.
He argued that the charges were bailable offenses and not a capital offense.
He said: “Though the prosecuting authority granted the first defendant administrative bail. He is seeking bail based on self-recognition and he is ready to attend the court.
“The court should also take into consideration the status of the first defendant as he was the former CBN governor of the country.”
It would be recalled that during the last court sitting, Justice Oshodi had granted an order to remand Emefiele to a detention facility pending when the court will give its ruling on his bail application.
Oshodi also ordered the remand of Emefiele’s co-defendant Henry Omoile at the Kirikiri Prison pending the court’s ruling.
The New Diplomat reports that the EFCC slammed a fresh 26-count charge against Emefiele and one of his allies, Omole.
The charge, marked ID/23787c/2024, dated April 3, 2024, was filed by Mr Rotimi Oyedepo (SAN).
EFCC alleged that Emefiele committed abuse of office between 2022 and 2023, in Lagos, of abuse of office.
Emefiele is facing trial on counts bordering on accepting gratification, accepting gifts through agents, corruption, receipt of property fraudulently obtained, and conferring corrupt advantage on his associates contrary to the Corrupt Practices Act of 2000.
The commission alleged that Emefiele “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”
