Why Court Granted Emefiele N20m Bail

A Federal High Court sitting in Lagos on Tuesday granted the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele bail in the sum of N20 million with one surety in like sum.

The trial judge, Justice Nicholas Oweibo, after listening to the submission of Joseph Daudu, SAN, who is the counsel to Emefiele, rejected the Federal Government claim that Emefiel was a flight risk and therefore granted the suspended Governor of CBN bail.

Justice Oweibo further held that the federal government failed to provide any fact to support its claim.

Emefiele was on Tuesday, July 25, 2023 taken to the court by DSS operatives in a Hilux van and made to appear before Justice Oweibo.

The embattled suspended CBN governor, pleaded not guilty to the two counts of illegal possession of firearm and ammunition filed against him by the Federal Government.

In his submissions, Emefiele’s counsel, Daudu, SAN, prayed the Court to grant Emefiel, who is 61years old bail on self-recognizance or on other liberal terms, pending the hearing and determination of the case.

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

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

She further averred that the prosecution had information that the defendant’s refusal to hand in his passport suggested his capacity to evade and abscond from his trial.

According to her; “As the Governor of the CBN, he is a powerful man, and can intimidate the witnesses. Granting him bail will intimidate the prosecution 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 argued.

After listening to the argument of both counsels, Justice Oweibo rejected the Federal Government position and ordered that Emefiele be held at the Ikoyi Correctional Centre, pending the perfection of his bail.

The Court then fixed the trial for November 14, 2023.

Emefiele has been in the custody of the Department of State Services (DSS) since June 10, 2023 following his suspension by President Bola Ahmed Tinubu on June 9, 2023.