Emefiele remanded in EFCC custody

Central Bank of Nigeria CBN Governor Godwin Emefiele
Godwin Emefiele

A State High Court in Ikeja, Lagos on Monday ordered the remand of a former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele in the custody of the Economic and Financial Crimes Commission (EFCC).

Justice Rahman Oshodi said Emefiele should be remanded till April 11 when the court will give its ruling on bail.

The judge remanded Emefiele’s co-defendant Henry Omoile at the Kirikiri Prison pending ruling on his bail on the same day.

The court ordered the remand of both men after listening to the bail applications filed by their counsel AbdulHakeem Labi-Lawal.

In asking for Emefiele’s bail, the counsel told the court to grant the ex-CBN boss bail on self recognizance pending the hearing and determination of the case or on the most liberal bail terms. The counsel also asked the court to grant the second defendant bail on the most liberal terms.

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EFCC counsel Rotimi Oyedepo did not oppose the request for bail. He asked the court to exercise its discretion in the grant of bail.

Emefiele was arraigned on 26-count charges of alleged abuse of office and allocation of billions of dollars.

The EFCC alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

Emefiele pleaded not guilty to the charges.