Alleged Irregular Allocation Of $4.5bn, N2.8bn: Court Admits Emefiele To N50m Bail

Former Central Bank (CBN) governor, Godwin Emefiele, has been granted bail in the sum of N50m with two sureties in like sum by the Lagos High Court sitting in Ikeja.

Justice Rahman Oshodi who granted him bail held that the sureties must be gainfully employed and have three years of tax payment with the Lagos State Government.

Justice Oshodi said that the sureties must show proper identification and they must be registered in the Lagos State Bail Management System.

The judge also said that he was satisfied with the bail conditions of N1 million, earlier given to Emefiele’s co-defendant Henry Isioma-Omoil who is standing trial on another charge before Justice Olufunke Sule-Hamzat of the Lagos High Court sitting in Yaba.

According to the court, the bail documents must be transferred to the special offences court and it must also be registered in the Lagos State Bail Management System.

Channel TV reported that last week Monday, the Economic & Financial Crimes Commission (EFCC) charged Emefiele before the court on a 26-count bordering on alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion respectively.