Former CBN governor, Emefiele remanded for alleged abuse of office, involvement in $4.5bn, N2.8bn fraud

According to recent reports, Mr. Godwin Emefiele, the former Governor of the Central Bank of Nigeria, has been remanded by Justice Rahman Oshodi of the Ikeja Special Offences Court over allegations of abuse of office.

Oshodi remanded Emefiele in the EFCC custody  while his co-defendant, Henry Isioma-Omoile, was remanded in Ikoyi Custodial Centre where he is currently held pending the determination of their bail application on April 11.

The defendants counsel, Mr A. Labi-Lawal, had in his two bail application urged the court to grant the defendants bail on self recognition and on liberal terms pending the determination on the case.

Labi-Lawal, in his 31 affidavits, said the first  defendant (Emefiele) had complied with the bail application which was given to him by Justice Muazu in his alleged fraud trial case going on in Abuja.

He said the charges were bailable offences and not a capital offence.

“Though the first defendant was granted administrative bail by the prosecuting authority.

“He is seeking for bail based on self recognition and he is ready to attend the court.

“The court should also take into consideration, the status of the first defendant as he was the former CBN governor of the country,” he said.

The defence counsel said his client  had religiously presented himself before Justice Muazu in Abuja to answer the allegations before him.

According to him, the first defendant was not at flight risk, as he was the first person to arrive in court.

He also prayed the court to release Emefiele to lawyer, pending the determination of the  bail.

Emefiele and his co-defendant pleaded not guilty to the 26-count charge bordering on abuse of office, accepting gratification, accepting gifts through agents, corruption, and fraudulent property receipt.

The defendants, however, pleaded not guilty, following their arraignment.

The EFCC counsel, Mr Rotimi Oyedepo (SAN), did not oppose the bail application moved by the defence counsel.

Oyedepo, however, urged the court to exercise its discretion judiciously in granting bail to the  defendants.

The prosecution had asked the court for a trial date, following the plea of the defendants.