Breaking: Embattled ex-Nigeria’s central bank governor gets N50m bail

The troubled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted N50 million in bail by Justice Rahman Oshodi of the Ikeja Special Offenses Court on Friday.

Top banker is facing legal charges relating to purported office abuse and fraud totaling N2.8 billion and $4.5 billion.

In his decision, Justice Oshodi granted Emefiele N50 million in bail, with two sureties contributing the same amount.

Oshodi mandated that the sureties have a profitable job and have paid taxes to the Lagos State Government for the previous three years.

In addition, he stated that the sureties needed to register in the Lagos State Bail Management System and provide valid identity.

The judge expressed his satisfaction with the N1 million bail terms that were previously granted to Henry Isioma-Omoil, Emefiele’s co-defendant, who is currently in court before Justice Olufunke Sule-Hamzat of the Yaba High Court on a different charge.

Recall that the President Bola Ahmed Tinubu-led government recently concluded a probe of the central bank under Emefiele, with the outcome yet to be made public.

Mr. Tinubu sacked the former central bank governor on June 9, and he was arrested the next day.

He formally resigned in August, opening the door for Olayemi Cardoso’s appointment as governor in September.