According to Justice Rahmon Oshodi, Emefiele is also to produce two sureties in like sum as part of the bail conditions.
By Jeffrey Agbo
An Ikeja High Court in Lagos has granted former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail in the sum of N50 million.
According to Justice Rahmon Oshodi Emefiele is also to produce two sureties in like sum.
The ex-CBN governor was arraigned by the Economic and Financial Crimes Commission (EFCC) on a 26-count charge bordering on alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion.
He is also accused of conferring a corrupt advantage on his associates contrary to the Corrupt Practices Act of 2000.
READ ALSO: Emefiele arraigned, pleads not guilty to 26 charges
The court on Monday remanded him in the custody of the EFCC following his arraignment.
Justice Rahman Oshodi made the remand order after Emefiele and his co-defendant, Herry Omoile, pleaded not guilty to the charges.
The judge remanded Omoile in the custody of the Nigerian Correctional Services.
Before the court’s ruling, Emefiele’s lawyer, Abdulakeem Ladi-Lawal, had urged the court to admit his client to bail self-recognition or, on the most liberal terms.
The EFCC’s lawyer, Rotimi Oyedepo (SAN), did not oppose the bail application but urged the judge to impose conditions that would compel the defendants to court for their trial.
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