In a significant turn of events, the federal high court in Lagos has made a ruling granting bail to Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN). The court set the bail amount at N20 million.
Presiding over the case, Judge Nicholas Oweibo deemed the charges against Emefiele to be bailable, leading to this decision. As per the bail conditions, Emefiele is required to produce one surety who can match the same sum.
During the proceedings, Emefiele entered a plea of not guilty in response to the two-count charge, which revolves around the alleged illegal possession of firearms.
This development marks a significant moment in the ongoing case, and we'll be closely following any further updates as they unfold.