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Godwin Emefiele Granted N20 Million Bail

The suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted bail in the sum of N20 million by Justice Nicholas Oweibo of the Federal High Court in Ikoyi, Lagos. The bail was granted on Tuesday, 25 July 2023.

Emefiele had been in the custody of the Department of State Services (DSS) for six weeks prior to being granted bail. He was arrested and detained by the DSS on allegations of corruption and financial mismanagement.

The bail conditions set by Justice Oweibo include the provision of two sureties in like sum, one of whom must be a civil servant not below Grade Level 16, while the other must be a property owner within the jurisdiction of the court. Emefiele is also required to deposit his international passport with the court.

The case has been adjourned to a later date for further hearing. The suspended Governor of the Central Bank of Nigeria (CBN)’s legal team has expressed confidence that he will be able to meet the bail conditions and secure his release from custody.

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A writer at Parallel Facts