The Federal High Court in Lagos has granted bail to the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in the sum of N20 million, with one surety providing a similar amount. Justice Nicholas Oweibo granted bail to Emefiele after considering the arguments presented by Emefiele’s counsel, Joseph Daudu (SAN).
The judge rejected the Federal Government’s claim that Emefiele was a flight risk, stating that the government failed to provide any evidence to support this claim.
President Bola Tinubu suspended Emefiele as the apex bank chief on June 9, 2023, and the Department of State Services (DSS) later confirmed that he was in their custody. Following legal challenges by Emefiele’s counsel, the DSS charged him to court on July 13, 2023.
Emefiele appeared in court on Tuesday, July 25, 2023, and pleaded “not guilty” to the charges of illegal possession of firearm and ammunition filed against him by the Federal Government.
Emefiele’s lawyer, Daudu, requested the court to grant bail on self-recognizance or other liberal terms, emphasizing that the defendant is a renowned banker and would not evade trial.
The counsel for the Federal Government, Nkiru Jones-Nebo, opposed the bail application, arguing that the prosecution had not been given sufficient time to respond in accordance with fair hearing provisions. She also expressed concerns about the defendant’s refusal to hand in his passport, which raised the possibility of him evading trial.
However, the court overruled the Federal Government’s objections and granted bail to Emefiele. The judge ordered that Emefiele be held at the Ikoyi Correctional Centre until the bail conditions are met.
The trial is scheduled to commence on November 14, 2023.
