Former Central Bank (CBN) governor, Godwin Emefiele, has been granted bail of N50 million by the Lagos High Court.
Emefiele was charged by the Economic and Financial Crimes Commission (EFCC) on Monday of last week on 26 counts that included alleged abuse of office and irregular allocation of N2.8 billion and $4.5 billion, respectively.
Justice Rahman Oshodi, presiding over the case, ruled that two sureties must be gainfully employed and have three years of tax payments with the Lagos State Government.
The sureties need to register in the Lagos State Bail Management System and provide valid identification, according to Oshodi.
He added that he was content with the N1 million bail terms that had previously been granted to Henry Isioma-Omoil, Emefiele’s co-defendant, who is currently on trial for a different charge before Justice Olufunke Sule-Hamzat of the Lagos High Court, located in Yaba.
As per the court’s order, the bail documents need to be registered in the Lagos State Bail Management System and forwarded to the special offences court.
