Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN) has been granted bail in the sum of N20 million by the federal high court sitting in Lagos.
Justice Nicholas Oweibo, the presiding judge released Emefiele on a N20 million bail bond with one surety in the like sum following the banker’s “not guilty” to a two-count charge filed against him by the Federal Ministry of Justice over an alleged possession of illegal firearms.
In the first count, Emefiele was accused of having in his possession a single-barrel shotgun (JOJEFF MAGNUM 8371) without a licence on June 15 at Ikoyi. According to the federal government, the offence was contrary to Section 4 of the Firearms Act, 2004, and punishable under Section 27 (1b) of the same Act.
In the second count, the federal government accused the suspended CBN governor of possessing 123 rounds of live ammunition (Cartridges) without a licence, which was contrary to Section 8 of the Firearms Act 2004 and punishable under Section 27 (1)(b)(il) of the same Act.
The judge, on his part, rejected the federal government’s claim that Emefiele was a flight risk, adding that the government failed to provide any fact to support its claim.
Business A.M understands that Emefiele had filed the bail application through his team of counsel led by Joseph Daudu, a former president of the Nigerian Bar Association (NBA).
Dauda pleaded with the court to help stop the oppression of his client, who has been in detention for weeks. He added that he already filed an application for bail and served on the prosecution but the DSS objected, claiming that it has not been served.