A federal high court in Lagos has granted bail to Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN), in the sum of N20 million.
In a ruling on Tuesday, Nicholas Oweibo, the presiding judge, said the charges against Emefiele are bailable.
The bail was granted with one surety in like sum.
Earlier, Emefiele pleaded not guilty to the two-count charge bordering on alleged illegal possession of firearms.
After several legal fireworks by Emefiele’s counsel challenging his prolonged detention by the DSS, the secret police bowed to pressure on July 13, 2023 and announced that the suspended apex bank chief has been charged to court.
Emefiele was brought to court by DSS operatives in a hilux vehicle on Tuesday, July 25, 2023.
Appearing before Justice Oweibo, Emefiele, 61, pleaded “not guilty” to the two counts of illegal possession of firearm and ammunition filed against him by the Federal Government.
In his submissions, Emefiele’s lawyer, Daudu, urged the court to grant bail on self recognizance or on other liberal terms, pending the hearing and determination of the trial.