Suspended CBN gov, Emefiele gets N20m bail
A Federal High Court Sitting in Lagos has granted bail to the suspended CBN Governor, Godwin Emefiele, in the sum of N20 million with one surety in like sum.
This decision was made by Justice Nicholas Oweibo after carefully considering the submissions of Emefiele’s counsel, Joseph Daudu (SAN).
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The bail application was met with opposition from the Federal Government, which argued that Emefiele posed a flight risk.
However, Justice Oweibo ruled in favor of the defendant, stating that the government failed to provide any evidence to support its claim.
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Emefiele, aged 61, pleaded “not guilty” to the two-count charge of illegal possession of a firearm and ammunition, which were filed against him by the Federal Government.
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Joseph Daudu (SAN), representing Emefiele, urged the court to grant bail on self recognition or on other liberal terms, pending the hearing and determination of the trial.
Daudu pointed out that there was no counter affidavit from the Federal Government opposing bail and emphasized that Emefiele, being a renowned banker, would remain within the confines of his house and would not attempt to evade trial by fleeing the country.
On the other hand, counsel to the Federal Government, Nkiru Jones-Nebo, opposed the bail application in an oral submission. Jones-Nebo argued that the prosecution had not been given enough time to respond in accordance with the principles of fair hearing enshrined in the constitution.
Additionally, she expressed concerns that Emefiele’s refusal to surrender his passport indicated a potential capacity to evade trial.
As the governor of the Central Bank of Nigeria (CBN), Emefiele held a position of power, leading to fears that he could potentially intimidate witnesses, causing reluctance in providing evidence against him. However, the court ultimately overruled the Federal Government’s arguments and granted him bail.
The judge ordered that Emefiele be held at the Ikoyi Correctional Centre until the conditions of his bail are met. The trial has been scheduled to begin on November 14.
This recent development comes after President Bola Tinubu suspended Emefiele from his position as the apex bank chief on June 9, 2023. Shortly after his suspension, the Department of State Services (DSS) confirmed that Emefiele was in their custody.
In response to mounting pressure, an Abuja High Court ordered the DSS to either charge Emefiele to court within one week or release him. Consequently, the DSS charged Emefiele to court in compliance with the court order.
The granting of bail to Godwin Emefiele has become a subject of public interest and is likely to have far-reaching implications on the ongoing trial.
As the former CBN Governor awaits trial, the nation will closely watch the legal proceedings unfold.
November 14 will be a crucial date, marking the beginning of a significant chapter in this high-profile case.
Overall, the court’s decision to grant bail to Emefiele has sparked discussions and debates across the country.
As the trial progresses, Nigerians eagerly anticipate the resolution of this case, which has captured the attention of the entire nation.
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