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Court Grants Emefiele 50 Million Naira Bail in Fraud Case

Court Grants Emefiele 50 Million Naira Bail in Fraud Case 

An Ikeja Special Offences Court on Friday admitted the suspended Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to bail in the sum of ₦50 million.

Emefiele is charged with abuse of office and fraud to the tune of $4.5 billion and ₦2.8 billion

In his decision, Judge Rahman Oshodi granted Emefiele bail along with two sureties in the same amount.

According to Oshodi’s ruling, the sureties had to have paid taxes to the Lagos State Government for three years and be employed for a profit.

In addition, he mandated that the sureties register in the Lagos State Bail Management System and provide valid identification.

Additionally, the judge expressed his satisfaction with the ₦1 million bail terms that had been previously granted to Henry Isioma-Omoil, Emefiele’s co-defendant, who is currently facing additional charges before Justice Olufunke Sule-Hamzat in a Yaba High Court.

On the other hand, according to Oshodi, the bail paperwork needs to be registered in the Lagos State Bail Management System and sent to the special offences court.

Emefiele was charged on April 8 by the Economic and Financial Crimes Commission (EFCC) with 23 counts related to abuse of office, accepting gratifications, corrupt demand, receiving property obtained fraudulently, and conferring corrupt advantage. His co-defendant was charged on April 8 with three counts related to accepting gifts from agents. Nonetheless, the defendants entered a not guilty plea to the accusation.

According to the News Agency of Nigeria (NAN), the attorneys were requesting an expedited trial and hearing at the time this story was filed.

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