The Federal Capital Territory High Court has granted former governor of the Central Bank Of Nigeria, Godwin Emefiele bail and ordered him to produce two sureties who must own properties worth 2 billion Naira.
The court also gave Emefiele 72 hours to perfect his bail conditions or risk being remanded.
The court also said the sureties must sign an undertaking that if the defendant jumps bail, they will be remanded in custody.
This order came as the Economic and Financial Crimes Commission, EFCC arraigned the former CBN Governor on a fresh 8-count charge of alleged money laundering totalling 7.7 billion Naira and the ownership of a 150-square-meter Estate in Lokogoma, Abuja.
Emefiele, who appeared before Justice Yusuf Halilu, pleaded not guilty to the charges.
In the charge, Emefiele is accused of allegedly unlawfully obtaining the said Estate as well as having under his control the accumulated sum of 7 billion Naira between 2019 and 2022.
Counsel to the prosecution, Rotimi Oyedepo, prayed the court to grant accelerated hearing in the matter and remand the defendant in custody.
Emefiele’s counsel, however, informed the court of three pending cases filed by the prosecution and amounting to four in total, if this fresh charge is added, noting that the defendant is currently on bail granted to him by the other courts.
MUST READ:Emefiele Trial: Court told former CBN Gov ignored laid down currency redesign procedure
A bail application was filed by the defendant’s counsel, and he prayed the court to admit his client to the same.
In response, the prosecution noted that he was just served with the bail application and would need time to respond.
The court, however, went on to admit Emefiele to bail and adjourned the matter to July 11 for trial.
(Editor: Okechukwu Eze)
