Just in: Court grants Emefiele N50m bail

A high court sitting in Ikeja, Lagos, has granted bail to the embattled former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele in the sum of N50 million.

Rahmon Oshodi, the judge, in his ruling on the bail application on Friday, admitted Emefiele on bail with two sureties in like sum.

The former CBN governor is facing trial in Lagos on a 26-count charge bordering on abuse of office.

It would be recalled that the Economic and Financial Crimes Commission (EFCC) had on Monday April 8 filed a fresh 26-count charge bordering on abuse of office & corruption against Emefiele.

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Emefiele was  arraigned before Justice Rahman Oshodi of the Lagos High Court, Ikeja on Monday, April 8 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.

Count one of the charge reads, “that you, GODWIN IFEANYI EMEFIELE between 2022 and 2023, in Lagos, 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 (Two Billion, One Hundred and thirty-six million, three hundred and ninety-one thousand, seven hundred and thirty-seven Dollars, thirty-three cents) without bids, which act is prejudicial to the rights of Nigerians.”