Godwin Emefiele, the former governor of the Central Bank, is facing 26 counts of suspected abuse of power and improper allocation of N2.8 billion and $4.5 billion, respectively.
The Lagos State Special Offences Court granted him bail of N50 million.
Emefiele was admitted to bail with two sureties in like sum by Justice Rahmon Oshodi on Friday.
On Monday PUNCH Online reported that the Lagos court sent Emefiele back to the custody of the Economic and Financial Crimes Commission
Justice Rahman Oshodi made the remand order shortly after the anti-graft agency arraigned Emefiele on 26 counts bordering on “abuse of office, accepting gratifications, corrupt demand, receiving property fraudulently obtained, and conferring corrupt advantage.”
In the substance of the charges, the EFCC alleged that he abused his office while he was CBN governor through alleged allocations of $4.5bn and N2.8bn.
However, in his ruling today, Oshodi held that the sureties must be gainfully employed and have paid the three years’ tax of the Lagos State government.
He also ordered that the sureties must show proper identification and be registered in the Lagos State Bail Management System.
The judge stressed that he was satisfied with the bail conditions of N1 million, earlier given to Mr Emefiele’s co-defendant, Henry Isioma-Omoil, who is standing another charge before Justice Olufunke Sule-Hamzat in the Yaba Division of the Lagos High Court.
He also maintained that the bail documents must be transferred to the special offences court and registered in the LSBMS.