A high court in Ikeja, Lagos, has granted bail to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), in the amount of N50 million.
In his ruling on Emefiele‘s bail application on Friday, Judge Rahmon Oshodi admitted him to bail with two sureties in the same amount.
Emefiele is on trial in Lagos on a 26-count charge of abuse of office.
Emefiele was arraigned by the federal government on Monday, along with his co-defendant Henry Omole.
Both defendants pleaded not guilty to the 26-count charges brought against them.
During the court proceedings on Monday, A. Labi-Lawal, counsel to Emefiele, prayed the court to grant his client bail on self-recognition with liberal terms, pending the decision of the case.
Rotimi Oyedepo, counsel for the Economic and Financial Crimes Commission (EFCC), did not oppose the bail application filed by the defence counsel.
The judge postponed ruling on the bail application until April 11.
However, the court was unable to hear the application due to the Eid-el-Fitr holiday.
The judge emphasised the bail conditions. He said the two sureties must be gainfully employed and have three years of tax payments with the Lagos state government.
He ordered the addresses of the two sureties to be verified.
The judge granted the second defendant N1 million bails with two sureties. The second defendant must provide two years of tax clearance.