The suspended governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted bail by a Federal High Court in Lagos in the amount of N20 million.
The presiding judge, Nicholas Oweibo, ruled that the charges against Emefiele are bailable, and the bail was provided with one surety in a similar amount.
Emefiele was arraigned before the vacation judge, Justice Nicholas Oweibo, after over 6 weeks after his arrest and detention by the Department of State Services (DSS).
Court rejects FG’s objection
After Emefiele took his plea of not guilty to the charges, his counsels, led by Joseph Daudu, a senior advocate of Nigeria (SAN) and former President of the Nigeria Bar Association (NBA), informed the court of a bail application.
Daudu prayed that the court should grant bail to his client on self recognisance or on other liberal terms, pending the hearing and determination of the trial.
- Dauda said, “There is no counter affidavit from the federal government, this is an unopposed application. He is a renowned banker and can only stay at his house. He can’t travel anywhere.’’
However, Nkiru Nebo-Jones, a deputy director of prosecution at the office of the attorney-general of the federation (AGF) and counsel to the Federal Government, opposed the bail application, saying she has not seen a copy of the document.
She insisted that the prosecution had not been given time to respond in line with the provisions of fair hearing enshrined in the constitution.
She also said that the prosecution had information that the defendant’s refusal to hand in his passport suggested his capacity to evade and abscond from his trial.
- She argued, “As the governor of the CBN, he is a powerful man, and can intimidate the witnesses. Granting him bail will intimidate the prosecution witnesses who have come forward to give evidence. He can evade trial based on his antecedents. We urge the court to dismiss the bail application.’’
Meanwhile, Emefiele’s lawyer, Daudu said the office of the AGF was served the document of the bail application, adding that the proof of service endorsed by the AGF’s office was in the court’s file.
He asked the court to end the intimidation of his client by the DSS and hear the bail application.
Ruling on the matter, Justice Oweibo overruled the Federal Government and rejected the objection of the prosecution to the hearing of the bail application.
The judge also ordered that Emefiele be held at the Ikoyi Correctional Centre, pending the perfection of his bail as against the request of the prosecution that the defendant should be remanded in DSS custody for further investigation on another matter that may soon be filed in court.
The trial has been fixed for November 14, 2023.
Other bail conditions
The presiding judge ruled that the surety must have landed property within the jurisdiction of the court and must be deposed to an affidavit of means.
Emefiele was asked to deposit his international passport with the court registry.
The judge also ruled that the CBN governor should be remanded in the correctional centre, pending perfection of his bail conditions.
- He said, “The surety must be owner of a landed property within the jurisdiction of the court who must not be less than Level 16 in the Nigerian Civil Service.
- “The defendant must deposit his international passport to the court.
- “Case is adjourned to 14th of November for trial.”
