Former Central Bank Governor, Godwin Emefiele, has been ordered to remain in the custody of the Economic and Financial Crimes Commission (EFCC) by the Lagos State High Court in Ikeja.
News About Nigeria reports that the decision was made by Justice Rahman Oshodi due to allegations of abuse of office and involvement in a $5.5 billion and N2.8 billion fraud case.
In addition, Emefiele’s co-defendant, Henry Isioma-Omoile, was ordered to be detained at Ikoyi Custodial Centre.
Emefiele’s lawyer, Mr. A. Labi-Lawal, sought bail for his client based on self-recognition and liberal terms, citing Emefiele’s compliance with previous bail conditions set by another court in Abuja regarding a separate fraud case.
Labi-Lawal argued that the charges were bailable and noted Emefiele’s status as a former CBN governor, adding that he poses no flight risk.
“Though the first defendant was granted administrative bail by the prosecuting authority. He is seeking for bail based on self-recognition and he is ready to attend the court.
“The court should also take into consideration, the status of the first defendant as he was the former CBN governor of the country,” he said.
Emefiele and Isioma-Omoile pleaded not guilty to the charges of abuse of office, corruption, and fraudulent property receipt.
The EFCC did not oppose the bail application but urged the court to consider the matter carefully.
Following the plea, the prosecution requested a trial date to proceed with the case.
Emefiele was suspended as CBN governor by President Tinubu in June 2023, when the latter stepped into office.
Emefiele was subsequently arrested and charged in July 2023 and later released on bail after being re-arrested by the Department of State Services.
