Court Grants Emefiele N20m Bail

The suspended governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been granted bail in the sum of N20 million.

Emefiele was granted bail by the Federal Court Lagos, after his arraignment on Tuesday over a two-count charge bordering on alleged illegal possession of firearms. He pleaded not guilty to the charges.

The presiding judge, Nicholas Oweibo, held that the charges against Emefiele are bailable. The bail was granted with one surety in like sum.

Prime Business Africa earlier reported the arrival of Mr Emefiele in the court.

The ex-CBN governor, who was arrested on June 9 by the Department of State Services (DSS) immediately after his suspension was accused by the Federal Government of having in his possession 44 calibre shotgun that uses a magnum cartridge and also, 123 rounds of live ammunitions (cartridges) without a licence.