Suspended CBN Governor Godwin Emefiele Gets ₦20m Bail

Federal High Court sitting in Ikoyi, Lagos State has ruled that the Federal Government was served the bail application filed by the suspended Central Bank of Nigeria, CBN governor, Godwin Emefiele and subsequently granted a ₦20 million bail with one surety in like sum to the detained ex governor.

The Court ruling brushed aside the Federal Government claim that it was not given enough time to respond to the bail application hence her reason of not filing a counter affidavit before the court to challenge the bail application.

Godwin Emefiele who appeared in Court for the first time since he was suspended in June 2023 and arrested immediately by the Department of State Services, DSS, prayed the court to grant him bail on self recognition.

Godwin Emefiele team of Lawyers led by by Joseph Daudu, SAN, prayed the court to grant the defendant bail on self-recognition and other liberal terms pending the hearing and determination of the trial, noting the non-existence of a counter affidavit from the Federal government.

Daudu stated that the defendant is a renowned banker, asking the court to end what he described as the oppression of his client by the DSS.

The prosecution counsel, opposed the bail application saying that it hasn’t been given enough time to respond.

The Prosecution counsel told the court to dismiss the application, noting that they have information that the defendant has refused to hand in his passport, a situation which suggests that he could jump bail.

Adding that granting the defendant bail is not safe for the prosecution’s witnesses who have come forward to give evidence.

Ruling on the bail application, Justice Nicholas Oweibo stated that there was evidence that the Federal government was served the bail application and therefore granted the suspended CBN governor ₦20 million bail with one surety in like sum.

Earlier, Godwin Emefiele pleaded not guilty to a two-count charge bordering on illegal possession of firearms and ammunition leveled against him by the DSS.

It would be recalled that Godwin Emefiele was suspended by President Bola Tinubu with immediate effect on June 10 over a reason the Presidency described as a way to pave way for an ongoing investigation of his office and the planned reforms in the financial sector of the economy.

Godwin Emefiele was subsequently charged to court by the Department of State Services with allegations of possessing a single-barrelled shotgun (JOJEFF MAGNUM 8371) and 23 rounds of live ammunition (cartridges) without a license contrary to Section 8 of the Firearms Act and punishable under Section 27 (1)(b)(il) of the same Act.

Meanwhile Godwin Emefiele, the suspended governor of the Central Bank of Nigeria was led into the federal high court in Ikoyi, Lagos, around 9:18 AM on Tuesday, with video and photographs seeing him clutching the Bible.

The King James Version (KJV) of the holy book was tucked inside a red paperback, according to media reports.