Thursday, 09 November 2023 04:55

Court orders release of ex-CBN chief, Emefiele on bail

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A High Court of the Federal Capital Territory (FCT) has granted bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The court granted him bail after the Economic and Financial Crimes Commission (EFCC) complied with the order made on November 2.

In a ruling, Olukayode Adeniyi had directed the anti-graft agency to either release Emefiele, who had been in custody since June 9, or produce him in court for a bail decision.

However, at the resumed proceeding in the matter on Monday, the anti-graft agency failed to present the embattled former CBN governor.

But Adeniyi restated his directive, making it clear that the detained former CBN governor must be brought to court on Wednesday, November 8, for the purpose bail proceedings or for the EFCC to release him.

In his ruling after the EFCC produced Emefiele, Adeniyi ordered that he should be released to his counsel and must be produced in court when needed.

The presiding judge also ordered him to deposit all his travel documents with the court’s registrar.

On June 9, President Bola Tinubu suspended Emefiele and asked him to transfer his responsibilities to Folashodun Adebisi Shonubi, then deputy governor, operations directorate.

The day after, the Department of State Services (DSS), announced that Emefiele was in its custody for “some investigative reasons”.

In July, the President appointed a Special Investigator to probe the CBN and Related Entities.

The president named Jim Osayande Obazee, ex-Chief Executive Officer, Financial Reporting Council of Nigeria (FRCN), as the investigator.

The President asked the Special Investigator to investigate CBN and key Government Business Entities (GBEs). He also said Obazee would report directly to his office.

Emefiele resigned in August, paving the way for the appointment of new central bank governor Olayemi Cardoso in September.

 

Daily Trust

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