Court grants Emefiele N300m bail.

 Court grants Emefiele N300m bail.

A High Court of the Federal Capital Territory (FCT) in Maitama has granted former Central Bank of Nigeria (CBN) Governor Godwin Emefiele a N300 million bail.

In a ruling yesterday, Justice Hamza Muazu asked Emefiele to produce two sureties, who must have landed property in Maitama District of the FCT.

The judge said the sureties must present the property’s Certificate of Occupancy (C of O) in court for verification.

He also directed Emefiele to deposit his travel documents with the court and obtain the court’s permission before embarking on any trip outside the country. Emefiele was not in court during yesterday’s proceedings. 

On November 17, after the erstwhile CBN governor had pleaded not guilty to a five-count charge the Federal Government filed against him, the court ordered that he be remanded in Kuje correctional facility pending bail. 

But prison officials failed to produce him in court yesterday.

After the court ruling, Emefiele’s lawyer, Matthew Burkaa, expressed concern that his client may be rearrested by officials of the state.

The lawyer averred that the ex-CBN governor was rearrested before, even after he was granted bail by a court.

He urged the court to issue an order prohibiting his client’s further arrest by any agency of the Federal Government.

But the prosecution lawyer, Rotimi Oyedepo (SAN), averred that he could not promise that Ememfiele would not be rearrested.

Oyedepo said he could only assure the defence that the ex-CBN governor would not be rearrested over the current case for which he was granted bail.

Ruling, Justice Muazu held that it was impossible for the court to bar any government agency from carrying out its statutory responsibilities.

But the judge cautioned against any further arrest of the defendant over the current case.

He adjourned till November 28 for the commencement of trial.