Court finally grants suspended Godwin Emefiele N20m bail, directs he be remanded in Ikoyi correctional center until bail is perfected

Justice Nocholas Oweibo has granted the suspended the Central Bank of Nigeria, CBN Governor Godwin Emefiele, bail in the whopping sum of N20m with one surety in like sum.

The judge who preside over the case granted the bail after listening to the submissions of suspended Godwin Emefiele’s counsel, Joseph Daudu (SAN).

The judge dejected the Federal Government’s claim that Emefiele was a flight risk and should not be granted bail. The judge held that the government failed to tending any fact to support its claim against the suspended governor.

While tendering his bail application, Emefiele’s counsel called on the court to grant his client bail on self recognizance or on other liberal terms, pending the hearing and determination of the trial.

“There is no counter affidavit from the Federal Government opposing bail. Also, the defendant is a renowned banker and can only stay at his house, he can’t travel anywhere.” The counsel said.

But counsel to the Federal Government, Nkiru Jones-Nebo in an oral submission opposed the bail application insisting that the prosecution had not been given time to respond in line with the provisions of fair hearing enshrined in the constitution.

She stressed that the prosecution had information that the defendant’s refusal to hand in his passport suggests his capacity to evade and absond from his trial.

“As the governor of the CBN, he is a powerful man, and can intimidate the witnesses. Granting him bail will intimidate the prosecutions 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” she said

But the court overruled the Nigeria Federal Government in their submissions.

The judge ruled that Godwin Emefiele be held at the Ikoyi Correctional Centre, until he fulfils his bail condition.

His trial has been fixed for 14th of November, 2023. [CONTINUE READING]>>>