Lagos Court Sets Emefiele's Bail At N50m

Godwin Emefiele

GODWIN Emefiele, former governor of the Central Bank of Nigeria (CBN), has been granted N50 million in bail by a high court in Ikeja, Lagos.

In his decision on the bail application on Friday, Judge Rahmon Oshodi allowed Emefiele on bond along with two sureties in the same amount.

The former governor of the Central Bank of Nigeria is on trial in Lagos on 26 counts related to alleged official abuse.

Godwin Emefiele and his co-defendant, Henry Omole, were arraigned by the federal government on Monday.

The judge postponed making a decision on the bail request until April 11.

However, due to the Eid-el-Fitr holiday, the court was unable to hear the application.

The judge emphasized the terms of the bail, stating that the two sureties had to have three years of tax payments made to the state government of Lagos and be employed for a profit.

The judge mandated that the two sureties' addresses be confirmed.

The court set a bond of N1 million with two sureties, each of whom had to give two years of tax clearance, for the second defendant.