In a recent development, the Federal Capital Territory High Court has granted former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail in the sum of N300 million for the second time. This comes just months after a Lagos High Court granted him bail in the sum of N20 million in a separate case involving illegal arms possession.
Justice Olukayode Adeniyi, presiding over the case, ordered the release of Emefiele to his lawyers, who must ensure that he appears in court whenever he is needed. The judge also mandated Emefiele to deposit his international passport with the court and remain within the Abuja Municipal Council.
The bail application was filed by Emefiele’s lawyers, who argued that their client was innocent of the charges against him and that he had no intention of absconding. The prosecution, however, opposed the bail plea, stating that Emefiele was a flight risk and that releasing him would jeopardize the ongoing investigation.
Despite the prosecution’s objections, Justice Adeniyi granted Emefiele bail, citing the presumption of innocence and the need for fair trial. The judge also noted that Emefiele had not been convicted of any crime and that he had served as CBN governor for two terms without any blemish on his record.
Emefiele’s bail, however, comes with strict conditions. He must provide two sureties who own properties in the Maitama district of Abuja, and he must surrender his passport to the court. He is also restricted to the Abuja Municipal Council and must appear in court whenever required.
The charges against Emefiele stem from allegations of financial misconduct during his tenure as CBN governor. He is accused of, among other things, approving unauthorized contracts and awarding contracts to companies without due process.
Emefiele has denied all the allegations against him, maintaining that he is innocent and that he acted in the best interests of the country. He has also expressed confidence that he will be cleared of all charges.
The granting of bail to Emefiele is a significant development in the legal saga surrounding the former CBN governor. It remains to be seen whether he will be able to successfully defend himself against the charges against him. However, his release from custody is a victory for his legal team and a sign that he may yet emerge from this ordeal unscathed.