Suspended CBN Governor Godwin Emefiele Granted Bail by Federal High Court in Lagos
The Federal High Court in Lagos has granted bail to Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN), with a bail sum of N20m and one surety in the same amount. The court ruled in favour of Emefiele after rejecting the Federal Government’s claim that he was a flight risk, as no substantial evidence was provided to support this claim. Emefiele had been suspended by President Bola Tinubu on June 9, 2023, and subsequently detained by the Department of State Services (DSS). On July 13, 2023, he was charged with illegal possession of firearms and ammunition and pleaded not guilty to the charges.
During the bail application hearing, Emefiele’s counsel, Joseph Daudu (SAN), requested bail on self-recognizance or other liberal terms, highlighting that the defendant is a prominent banker and would not evade trial. On the other hand, the Federal Government’s counsel, Nkiru Jones-Nebo, opposed the bail application, citing the need for the prosecution to have sufficient time to respond and expressing concerns about Emefiele’s potential influence over witnesses due to his position as CBN governor.
However, Justice Nicholas Oweibo overruled the Federal Government’s objections and granted Emefiele bail. The judge ordered the defendant to be held at the Ikoyi Correctional Centre until bail is perfected, rejecting the prosecution’s request to keep Emefiele in DSS custody for further investigation. The trial is scheduled to begin on November 14, 2023.
The bail conditions set by the court require Emefiele to pay N20m and present a surety who owns a landed property within the jurisdiction and holds a minimum rank of Level 16 in the Nigerian Civil Service. Additionally, Emefiele is to deposit his international passport with the court until the trial concludes.
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