The Lagos State Special Offences Court has granted bail to the former Central Bank Governor, Godwin Emefiele, setting the bail amount at N50 million.
Emefiele faced charges including abuse of office and irregular allocation of $4.5 billion and N2.8 billion, totaling 26 counts.
Related News: Godwin Emefiele Remanded Again in EFCC Custody After Court Arraignment
Justice Rahmon Oshodi issued the bail order, requiring two sureties of equal amount and specifying that they must be employed, have paid their Lagos State taxes for three years, and be registered in the Lagos State Bail Management System.
However, on Monday, reports emerged that Emefiele was returned to the custody of the Economic and Financial Crimes Commission (EFCC) by the Lagos court.
Justice Rahman Oshodi issued the remand order after the EFCC arraigned Emefiele on charges related to abuse of office, accepting gratifications, and other corruption-related offenses.
The charges allege that Emefiele abused his position as CBN governor through improper allocations of funds.
In his ruling, Justice Oshodi referenced the bail conditions previously granted to Emefiele’s co-defendant, Henry Isioma-Omoil, who faced charges in another court.
The judge stressed the importance of transferring bail documents to the special offences court and registering them in the Lagos State Bail Management System.
You can also read: Emefiele and Omole Charged by EFCC on fresh 26-count Monday