Former Central Bank of Nigeria (CBN) governor Godwin Emefiele was granted bail by the Lagos State Special Offences Court on Friday. The bail sum was set at N50 million. Justice Rahmon Oshodi presided over the hearing and made the ruling. Emefiele was admitted to bail with two sureties, each providing the same amount. The sureties are required to be employed and must present evidence of three years’ tax payments to the Lagos State Government. Additionally, they must be registered in the Lagos State Bail Management System and provide proper identification.
The bail conditions previously set for Emefiele’s co-defendant, Henry Isioma-Omoil, by Justice Olufunke Sule-Hamzat of the Lagos High Court, were deemed satisfactory by Justice Oshodi. Isioma-Omoil is facing a separate charge.
Emefiele, along with Isioma-Omoil, was arraigned before the court on Monday on a 26-count charge related to abuse of office. During the hearing, Emefiele pleaded not guilty to the charges brought against him by the Economic Financial Crimes Commission (EFCC). He had been remanded in prison custody pending the hearing of the bail application on Friday.
