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Justice Nicholas Eweibo of the Federal High Court sitting in Lagos has granted bail to the suspended CBN Governor, Godwin Emefiele in the sum of N20m with one surety in like sum.
The judge granted the bail after the submissions of Emefiele’s counsel, Joseph Daudu (SAN).
The judge also rejected the claim by the Federal Government that Emefiele was a flight risk, adding that the government failed to provide any fact to support its claim.
The suspended CBN governor also pleaded “not guilty” to the two-count charge of illegal possession of firearm and ammunition filed against him.
In the first count, Emefiele is accused of possessing a single-barrel shotgun (JOJEFF MAGNUM 8371) without a licence, which is contrary to Section 4 of the Firearms Act, and punishable under Section 27 (1b) of the same Act.
In the second count, he is accused of having in his possession 123 rounds of live ammunition (cartridges) without a licence, which is contrary to Section 8 of the Firearms Act and punishable under Section 27 (1)(b)(ii) of the same Act.
However, Emefiele’s lawyer in his submissions urged the court to grant his client bail on self-recognition.
“There is no counter affidavit from the Federal Government opposing bail. Also, the defendant is a renowned banker and can only stay at his house, he can’t travel anywhere,” he argued.
But the government’s lawyer, Nkiru Jones-Nebo opposed the bail application, saying she had not been furnished with the document, adding that the prosecution had also not given her time to respond.