Ex-CBN Governor Emefiele Gets Another Bail with 5 Conditions

• Godwin Emefiele, the embattled former governor of the CBN, has been granted a second bail since his dilemma began after leaving office
• Justice Rahman Oshodi of Ikeja Special Offences Court said Emefiele should pay N50 million and meet four other conditions before leaving the custody of the EFCC
• The former CBN governor was first granted N20 million bail by the federal high court in Lagos but was rearrested by the DSS at the court premises

Legit.ng journalist Bada Yusuf is an accomplished politics and current affairs editor, boasting over seven years of experience in journalism and writing.

Ikeja, Lagos - Justice Rahman Oshodi of Ikeja Special Offences Court granted embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, N50m bail on Friday, April 12.

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Emefiele is facing a 26-count charge involving alleged abuse of office and fraud amounting to $4.5 billion and N2.8 billion.

According to Vanguard, Justice Oshodi, in his ruling, admitted Emefiele to N50 million bail with two sureties in like sum.

N50m, other bail conditions for Emefiele

Oshodi ordered that the sureties must be gainfully employed and must have made three years' worth of tax payments to the Lagos state government.

He also said the sureties must be appropriately identified and registered in the Lagos state bail management system.

The judge said he was satisfied with the N1 million bail condition earlier given to Emefiele's co-defendant, Henry Isioma-Omoil.

He is facing another charge before Justice Olufunke Sule-Hamzat of Yaba High Court.

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Oshodi, however, said the bail documents must be transferred to a special offences court and registered in the Lagos State Bail Management System.

Number of times Emefiele got bail

The court remanded the former CBN governor in the Economic and Financial Crimes Commission (EFCC) custody on Monday, April 8, after the anti-graft agency arraigned him.

Justice Oshodi remanded Emefiele and his co-defendants, Herry Omoile after they pleaded not guilty to the 26-count charge bordering on the abuse of office brought against them by the anti-graft agency.

This will be the second time the embattled former CBN governor has been granted bail.

The first was when the federal high court in Ikoyi, Lagos, granted him N20 million bail, but he was rearrested by the operatives of the Department of State Service (DSS) at the court premises.

Nigerians reject Emefiele's bail

Legit.ng earlier reported that some Nigerians did not wish the suspended CBN governor well after he was rearrested at the federal high court premises on Tuesday.

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Many of them recalled their experiences during the failed naira redesign policy introduced by Emefiele when he was the governor of the CBN.

Emefiele was said to have introduced the policy to settle political scores, but many Nigerians could not access their money during the period.

Source: Legit.ng