Court grants Emefiele N20m bail

A federal high court in Lagos has granted bail to Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN), in the sum of N20 million.

In a ruling on Tuesday, Nicholas Oweibo, the presiding judge, said the charges against Emefiele are bailable.

The bail was granted with one surety in like sum.

Earlier, Emefiele pleaded not guilty to the two-count charge bordering on alleged illegal possession of firearms.

The federal government had accused Emefiele of having in his possession, 123 rounds of live ammunition (cartridges) without a licence.

COURT REJECTS FG’S OBJECTION TO BAIL APPLICATION

After Emefiele took his plea, his counsels, led by Joseph Daodu, a senior advocate of Nigeria, informed the court of a bail application.

Daodu prayed that the court should grant bail to his client on self recognisance or on other liberal terms, pending the hearing and determination of the trial.

“There is no counter affidavit from the federal government, this is an unopposed application. He is a renowned banker and can only stay at his house. He can’t travel anywhere,” Daodu said.

But Nkiru Nebo-Jones, a deputy director of prosecution at the office of the attorney-general of the federation (AGF), opposed the bail application, saying she has not seen a copy of the document.

Daodu said the office of the AGF was served the document of the bail application, adding that the proof of service endorsed by the AGF’s office was in the court’s file.

He asked the court to end the intimidation of his client by the DSS and hear the bail application.

However, Oweibo rejected the objection of the prosecution to the hearing of the bail application.

FURTHER BAIL CONDITIONS

The presiding judge ruled that the surety must have landed property within the jurisdiction of the court and must be deposed to an affidavit of means.

Emefiele was asked to deposit his international passport with the court registry.

The judge also ruled that the CBN governor should be remanded in the correctional centre, pending a perfection of his bail conditions.

The case was adjourned to November 14, 2023.

BACKGROUND

On June 9, President Bola Tinubu suspended Emefiele and asked him to transfer his responsibilities to Folashodun Adebisi Shonubi, deputy governor, operations directorate.

The day after, the Department of State Services (DSS) announced that Emefiele was in its custody for “some investigative reasons”.

On July 13, a federal capital territory high court ordered the DSS to charge Emefiele to court if they have a foolproof case against him.

Hamza Muazu, presiding judge, had said Emefiele should be released on bail if he is not taken to a competent court within a week.

The DSS had argued that while in its custody, Emefiele had access to family members and medical doctors.