Court grants Emefiele bail, demands N2bn sureties within 72 hours
Ladi Patrick-Okwoli
A High Court of the Federal Capital Territory (FCT) sitting in Maitama has admitted Godwin Emefiele, a former Central Bank of Nigeria (CBN) governor, to bail with stringent conditions attached.
Yusuf Halilu, the presiding judge ruled that Emefiele must produce two sureties who each own properties valued at no less than N2 billion within Abuja.
The sureties are also required to sign an undertaking that they will be remanded in custody if the defendant jumps bail.
The court gave Emefiele 72 hours to fulfill the bail conditions, warning that failure to do so will result in him being remanded in custody.
Emefiele, who is facing fresh 8-count charges filed by the Economic and Financial Crimes Commission (EFCC), pleaded not guilty to the allegations.
The charges include money laundering to the tune of N7.7 billion and the alleged unlawful acquisition of a 150-square-meter estate in Lokogoma, Abuja.
The EFCC alleged that between 2019 and 2022, Emefiele had under his control the sum of N7 billion, suspected to be proceeds of unlawful activity.
Rotimi Oyedepo, the prosecution counsel urged the court to grant an accelerated hearing and remand the defendant.
However, Emefiele’s counsel informed the court that the defendant is already on bail in three separate cases and asked that the court extend the same bail terms to the present charge.
While the EFCC acknowledged receipt of the bail application, the prosecution requested more time to respond appropriately.
This is a developing story, details later ….
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