Alleged $4.5bn Fraud: Court Grants Emefiele N50m Bail

Justice Rahman Oshodi, on Friday, granted the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail in the sum of N50million.

Emefiele, facing a 23-count charge bordering on abuse of office and fraud to the tune of $4.5 billion and N2.8billion, respectively, brought against him by the EFCC, is standing trial before Justice Oshodi at the Lagos State Special Offences Court in Ikeja.

Justice Oshodi, in granting the bail, ruled that the former CBN governor must present two sureties as conditions.

The sureties, the Court stipulated, are to be gainfully employed with a three-year tax payment record in Lagos State.

They are also required to present proper identification and to be registered in the Lagos State Bail Management System.

Interestingly, the judge mirrored the bail conditions previously imposed on Emefiele’s co-defendant, Henry Isioma-Omoil, who faces a separate charge before Justice Olufunke Sule-Hamzat in another court in Lagos.