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Alleged $4.5bn Fraud: Court Grants Emefiele N50m Bail

Justice Rahman Oshodi on Friday granted the embattled former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele bail to the sum of N50 million.

Emefiele, embroiled in 23-count charge bothering on abuse of office and fraud totaling $4.5 billion and N2.8 billion, stood before Justice Oshodi as the legal battle unfolded.

Justice Oshodi in granting the bail, ruled that the former CBN governor must present two sureties as conditions.

These sureties, the Court stipulated, are to be gainfully employed with a three-year tax record in Lagos State.

They are also required to present proper identification and be registered in the Lagos State Bail Management System.

Interestingly, the judge mirrored the bail conditions previously imposed on Emefiele’s co-defendant, Henry Isioma-Omoil, who faces a separate charge before Justice Olufunke Sule-Hamzat at the Yaba.

The Economic And Financial Crimes Commission (EFCC) had accused the former CBN governor on a 23-count charge alleging abuse of office to corrupt demands.

As the trial commenced, the defendant had pleaded not guilty, setting the stage for a legal showdown.


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