Former governor of the Central Bank of Nigeria, Godwin Emefiele, has fulfilled the bail conditions set by Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja and has subsequently been released.
Emefiele met the bail requirements before the court adjourned on Friday, and he was freed following the day’s proceedings.
Justice Oshodi had granted Emefiele bail in the sum of $4.5 billion and N2.8 billion with two sureties each, in like amount.
The judge stipulated that the sureties must be employed and have paid tax to the Lagos State Government for the past three years. Additionally, they must provide proper identification and be registered in the Lagos State Bail Management System.
Emefiele’s co-defendant, Henry Isioma-Omoil, was also granted bail by the court. Isioma-Omoil will continue to abide by the conditions of the N1 million bail previously granted to him by Justice Olufunke Sule-Hamzat of the Lagos State High Court in Yaba.
However, Justice Oshodi ordered that the bail documents for both defendants must be transferred to the Special Offences Court and registered in the Lagos State Bail Management System.
The charges against the defendants include allegations of accepting gratification, receiving gifts through agents, corruption, and fraudulent property receipts. They are also accused of conferring corrupt advantage on their associates, contrary to the Corrupt Practices Act of 2000, as per the charge filed on April 3rd by the EFCC Prosecutor, Rotimi Oyedepo (SAN).
During the hearing on Friday, a prosecution witness, Monday Osazuwa, detailed to Justice Oshodi how Emefiele directed him on various occasions to collect $3 million cash in installments. Osazuwa, who is an employee of the CBN, stated that he collected the money from a businessman on behalf of Emefiele.
Osazuwa explained that he had worked with Emefiele since the latter’s time at Zenith Bank, and he continued to serve him after he became the CBN governor.
He testified that he received instructions from Emefiele to collect money from a businessman, with amounts ranging from $850,000 to $1 million in cash, which he would then deliver to Emefiele’s residence.
Osazuwa also mentioned that he was instructed by Emefiele to log transactions involving Dumies Oil and Gas Limited, a company where Emefiele served as the Managing Director, and to deposit cheques into the company’s account.
Despite his role in handling the transactions, Osazuwa stated that he was never rewarded or given any part of the collected sums by Emefiele.
