The Lagos State Special Offences Court has granted bail to former Central Bank Governor, Godwin Emefiele, setting the bail amount at N50 million. Emefiele faces charges of alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion, totaling 26 counts.
Justice Rahmon Oshodi presided over the bail hearing, requiring two sureties to match the bail sum. However, Emefiele was sent back to the custody of the Economic and Financial Crimes Commission (EFCC) pending further proceedings.
Emefiele’s charges include allegations of abuse of office, accepting gratifications, corrupt demands, receiving property fraudulently obtained, and conferring corrupt advantage during his tenure as CBN governor.
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In his ruling, Justice Oshodi mandated that the sureties must be gainfully employed and have paid three years’ worth of taxes to the Lagos State government. Additionally, they must be registered in the Lagos State Bail Management System and provide proper identification.
The judge referenced the bail conditions of Emefiele’s co-defendant, Henry Isioma-Omoil, as a precedent, maintaining consistency in the legal process across different cases. He emphasized the importance of adhering to proper documentation and registration procedures in the Lagos State Bail Management System.
