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Emefiele’s N20m Bail Explained: Here’s Everything You Need To Know!

Discover everything you need to know about Godwin Emefiele’s N20m bail. From charges to court proceedings, get a comprehensive overview of this high-profile case.



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LAGOS, Nigeria — Godwin Emefiele, the suspended Governor of Nigeria’s Central Bank (CBN), secured a N20 million bail from a Federal High Court in Lagos on Tuesday.

Emefiele Arrest

Emefiele was taken into custody at his home in Lagos on June 10 by the State Security Service (SSS). In a surprising move, he was immediately transported to Abuja for questioning. The charges, which emerged later, accused the senior banker of illegal possession of firearms and ammunition.

Not Guilty Plea

In court on July 25, Emefiele entered a plea of not guilty to the two charges leveled against him. His lawyer, Joseph Daodu, pleaded for his client’s bail, arguing that Emefiele, a figure renowned in the banking industry, was unable to travel and posed no flight risk.

Federal Government Opposition

Nkiru Jones-Nebo, the deputy director of prosecutions, expressed the federal government’s opposition to the bail plea. Jones-Nebo argued that Emefiele’s influential position could potentially intimidate witnesses. Moreover, she expressed concern that his refusal to surrender his passport signaled a potential for evading the trial.

The Bail Verdict

Despite the federal government’s objections, Justice Nicholas Oweibo sided with Emefiele, granting him a N20 million bail and stipulating the requirement of a like sum surety. The judge reasoned that the charges against Emefiele fell under the category of bailable offenses.

Ongoing Trial

As the proceedings continue, Emefiele faces two major charges related to the possession of a JOJEFF MAGNUM 8371 single-barrel shotgun without a license. This act, the federal government maintains, violates Section 4 of the Firearms Act, 2004, and is punishable under Section 27 (1b) of the same law.

The Road Ahead

Emefiele’s case remains a point of significant interest for Nigeria, with implications for the governance and reputation of its financial system.

Frequently Asked Questions

1. Why was Godwin Emefiele arrested?

Godwin Emefiele was arrested on charges of illegal possession of firearms and ammunition.

2. Who arrested Godwin Emefiele?

The State Security Service (SSS) of Nigeria arrested Godwin Emefiele.

3. What were the charges against Godwin Emefiele?

Godwin Emefiele was charged with two counts of illegal possession of firearms and live ammunition.

4. Was Godwin Emefiele granted bail?

Yes, Godwin Emefiele was granted bail by the Federal High Court in Lagos for N20 million with one surety in like sum.

5. When was Godwin Emefiele granted bail?

Godwin Emefiele was granted bail on July 25, 2023.

6. What is the amount of Godwin Emefiele’s bail?

The amount of Godwin Emefiele’s bail was set at N20 million.

7. Who is the judge presiding over the case?

Justice Nicholas Oweibo is presiding over the case.

8. Who is representing Godwin Emefiele in court?

Senior lawyer Joseph Daodu is representing Godwin Emefiele in court.

9. What is the Federal Government’s stance on the bail application?

The Federal Government opposes the bail application, claiming Emefiele may evade trial and intimidate witnesses.

10. Is the case against Godwin Emefiele ongoing?

Yes, the case against Godwin Emefiele is still ongoing as of now.

Stay tuned for more updates on the Emefiele case on Mandy News, your trusted source for news in Nigeria.

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