Court Grants Emefiele N300m Bail

Former Central Bank Governor, Mr. Godwin Emefiele, who is facing charges of financial impropriety and corruption, has been granted bail by Justice Hamza Muazu of the Federal Capital Territory High Court Abuja.  This recent bail, set at N300 million with two sureties in like sum, requires the sureties to possess certificates of occupancy within Abuja’s upscale Maitama District. Moreover, Emefiele must surrender his travel documents to the court registrar and remain within the Abuja Municipal Council as part of the bail conditions. This development follows a previous bail grant of N20 million by the Federal High Court in Lagos four months ago. The charges against Emefiele are linked to alleged irregularities and misconduct during his tenure as the Governor of the Central Bank of Nigeria (CBN). More details later…

Updated: Again, Court Remands Former CBN Gov, Emefiele in Kuje Prison

*Trial Commences November 28 Justice Hamza Muazu of the Federal Capital Territory (FCT) Maitama on Friday, remanded a former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, in Kuje Prison.  Emefiele will be at the correctional facility till November 22, pending the court’s determination of his bail application. The Economic and Financial Crimes Commission (EFCC) on Friday arraigned the Ex-CBN Boss on a six-count charge bordering on alleged money laundering and abuse of office. When the charges were read to him, Emefiele pleaded not guilty to all the charges. Sequel to his not guilty plea, his counsel, Matthew Burkaa (SAN) prayed the court to grant his client bail because he has suffered unduly, asking the court to use its discretion to grant him bail. “We have placed evidence before your Lordship that the defendant will not jump bail. But the plaintiff has not given sufficient evidence that he would jump bail. We urge your Lordship to grant him bail,” he argued.  Responding, counsel to the EFCC, Rotimi Oyedepo (SAN), told the court to refuse him bail as he would jump bail. In his ruling, Justice Muazu said the ex-CBN Governor should be remanded in Kuje Correctional Centre till  November 22 for the determination of his application for bail. Meanwhile, November 28 has been fixed for the commencement of his trial. Emefiele will also appear before Justice Olukayode Adeniyi of the same FCT High Court for a  fundamental human rights enforcement suit, having been illegally detained for 151 days.