The Federal High Court sitting in Lagos has granted bail to the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, who had been in custody since his suspension on June 9, 2023.
The court, presided over by Justice Nicholas Oweibo, granted bail to Emefiele in the sum of N20 million with one surety in like sum.
Emefiele was charged with two counts of illegal possession of firearm and ammunition, and he pleaded “not guilty” to these charges before Justice Oweibo.
Emefiele’s counsel, Joseph Daudu (SAN), presented compelling submissions, challenging the prolonged detention of his client by the Department of State Services (DSS).
He urged the court to grant bail on self-recognizance or on other liberal terms, considering Emefiele’s reputation as a renowned banker and his commitment not to leave his residence.
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Counsel for the Federal Government, Nkiru Jones-Nebo, opposed the bail application, expressing concerns about potential witness intimidation and Emefiele’s capacity to evade trial.
However, the court overruled the government’s objections, ruling that there were no substantial facts presented to support the claim that Emefiele was a flight risk.
Justice Oweibo ordered that Emefiele be held at the Ikoyi Correctional Centre until the bail conditions are perfected, in contrast to the prosecution’s request for the defendant to be remanded in DSS custody for further investigation on another matter that might be filed in court.
Bail Condition
The bail conditions set by the court require Emefiele to pay N20 million and present one surety who must be the owner of a landed property within the court’s jurisdiction and not below Level 16 in the Nigerian Civil Service.
Furthermore, the court has mandated Emefiele to deposit his international passport with the court.
The trial is scheduled to commence on November 14, 2023.
Background
President Bola Tinubu suspended Godwin Emefiele from his position as the Governor of the Central Bank of Nigeria on June 9, 2023.
A day later, the Department of State Services (DSS) confirmed that Emefiele was in their custody.
After facing legal challenges from Emefiele’s counsel, the DSS finally charged him to court on July 13, 2023, on charges of illegal possession of firearm and ammunition.
Following the court proceedings on July 25, 2023, where Emefiele pleaded not guilty, the judge granted him bail, rejecting the government’s claim that he was a flight risk.