Alleged Abuse of Power: Lagos court admits Emefiele to N50 million bail
On Friday, the Ikeja Special Offences Court admitted former CBN governor Godwin Emefiele to bail of N50 million.
Mr Emefiele was charged with abuse of office and fraud of $4.5 billion and N2.8 billion.
Justice Rahman Oshodi, in his ruling, admitted the former CBN governor to bail with two sureties in like sum.
Mr Oshodi held that the sureties must be gainfully employed and have paid the Lagos government three years’ tax.
He also ordered that the sureties must show proper identification and be registered in the Lagos State Bail Management System.
The judge also said he was satisfied with the bail conditions of N1 million, earlier given to Mr Emefiele’s co-defendant, Henry Isioma-Omoil, who is standing another charge before Justice Olufunke Sule-Hamzat before the Yaba Division of the Lagos High Court.
However, Mr Oshodi said the bail documents must be transferred to the special offences court and registered in the LSBMS.
The Economic And Financial Crimes Commission (EFCC) arraigned Mr Emefiele on April 8 on a 23-count charge bordering on abuse of office, accepting gratifications, corrupt demand, receiving property fraudulently obtained, and conferring corrupt advantage, while his co-defendant was arraigned on a three-count charge bordering on acceptance of a gift by agents.
The defendants, however, pleaded not guilty to the charge.
At the time of filing this report, the counsel was making applications for accelerated hearing and trial.
(NAN)
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