Court grants Emefiele N50m bail

The Lagos State Special Offences Court on Friday granted the embattled former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, bail in the sun of of N50 million.

He was admitted to bail with two sureties in like sum by Justice Rahmon Oshodi.

The presiding judge, Justice Rahman Oshodi, who gave the ruling during the bail hearing, also stipulated that the sureties must be employed and able to provide evidence of three years’ tax payments to the Lagos State Government.

Justice Oshodi further held that they must provide the proper identification and registration in the Lagos State Bail Management System.

READ ALSO:Court remands Emefiele in custody for alleged abuse of office

The judge also expressed satisfaction with the bail conditions previously set for Emefiele’s co-defendant, Henry Isioma-Omoil, by Justice Olufunke Sule-Hamzat of the Lagos High Court, who is facing a separate charge.

The embattled former CBN governor was arraigned alongside Isioma-Omoil before the court on Monday on a 26-count charge bordering on abuse of office.

During the hearing, he had pleaded not guilty to charges bordering on abuse of office brought against him by the Economic Financial Crimes Commission (EFCC) and was remanded in prison custody pending the hearing of the bail application on Friday.

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